Istat national statistics agency on Friday revised upward its annual GDP growth estimate, to +0.8% from +0.7%. However GDP was flat in the second quarter compared to the previous quarter, Istat said. Sectors that posted growth in Q2 compared to Q1 include agriculture (+0.5%) and services (+0.2%), while industry was -0.6%, Istat said. The agency also revised upward its projected GDP growth estimates for 2016, from +0.6% to +0.7%. As well, Istat said consumption stalled and investments decreased in the second quarter, with family consumption +0.1% compared to the first quarter, public administration spending -0.3%, and gross fixed investments -0.3%. On the trade front, imports rose by 1.5% and exports added 1.9%, Istat said.
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