The Italian economy has pulled out of the recession it slipped into in the second half of 2018 thanks to a 0.2% rise on GDP in the first quarter of 2019 with respect to the previous three months, according to a seasonally adjusted preliminary estimate released by ISTAT on Tuesday. The Italian economy registered two consecutive quarters of negative growth at the end of 2018, with GDP down 0.1% in both trimesters.
The national statistics agency said that Italy's GDP was up 0.1% in the first quarter compared to the same period last year.
ISTAT said that a "moderate recovery" was registered at the start of 2019 which "interrupted the weak fall in activity registered in the previous quarters". Economy Minister Giovanni Tria said that the data suggested the forecast of 0.2% growth given in the government's DEF economic blueprint would be achieved "or bettered if the international situation is moderately more favourable". Deputy Premier and Labour and Industry Minister Luigi Di Maio said that the data showed that "the direction taken is the right one". The 5-Star Movement (M5S) leader added that "we are moving forwards towards change like a train".
ALL RIGHTS RESERVED © Copyright ANSA
