Italy’s Quarterly GDP Growth For Q4 2013 In Line With Expectations; Annual GDP Slows More Than Expected

Italy Economy
Cars are parked at the Gioia Tauro commercial harbor on Nov. 8, 2012.

Italy, one of Europe’s most troubled economies, registered a quarter-on-quarter growth of 0.1 percent in gross domestic product, or GDP, in the last quarter of 2013, data from Istat reportedly showed Tuesday.

However, year-on-year GDP growth slowed more than expected to record a negative 0.9 percent, compared to a negative 0.8 percent recorded in the same period in 2012. A Wall Street Journal consensus estimate expected quarterly growth to be 0.1 percent while annual growth was expected to be the same as in Q4 2012.

The latest data confirm February's preliminary reading for growth in the final quarter, which had estimated that Italy's economy grew in Q4 2013 -- for the first time in 10 quarters -- by expanding 0.1 percent over the previous quarter.

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