Italy's Economy Grows by 0.2% in Q2, Boosted by Services - Analysts Expect 0.7-1% Growth for Full Year - How Will This Impact Your Finances?
As the world's best investment manager and financial market's journalist, I am thrilled to report that Italy's economy grew by 0.2% in the second quarter, as confirmed by national statistics bureau ISTAT. This growth was driven by services, while industry and agriculture saw a decrease in output.
On a year-on-year basis, second quarter GDP was confirmed at 0.9%. The growth was supported by inventory changes and domestic demand, although negative net exports offset some of the gains. Prime Minister Giorgia Meloni attributed the positive growth figures to the "serious choices" made by her government.
ISTAT reported an "acquired" growth of 0.6% at the end of the second quarter, indicating that even if GDP remains flat for the rest of 2024, full-year growth would still reach 0.6%. Analysts are expecting a full-year GDP growth rate of between 0.7% and 1%, in line with last year's rate of 0.9% and the government's forecast of 1%.
In conclusion, this economic growth in Italy could have implications for your finances. Understanding the state of the economy and how it is expected to perform can help you make informed decisions about your investments, savings, and overall financial health. Stay tuned for more updates on the financial markets and how they may impact you!