Italy's GDP rose 0.6% in first quarter - ISTAT

ROME. KAZINFORM - ISTAT said Wednesday that Italy''s calendar-adjusted and seasonally adjusted GDP rose by 0.6% in the first quarter with respect to the previous three months and by 1.9% compared to the same period last year, Kazinform cites ANSA.

The national statistics agency revised the figures up, having put GDP growth at 0.5% in quarter-on-quarter terms and 1.8% in year-on-year terms in the preliminary estimates it released on April 28.

The data shows that the Italian economy surged back strongly at the start of the year after it fell by 0.1% in the fourth quarter of 2022 with respect to the previous three months.

Italy's first quarter growth rate beat those of the United States (0.3%), France (0.2%) and Germany (-0.3%).

«The carry-over annual GDP growth for 2023 is equal to +0.9%,» ISTAT said.