Revised Italian GDP Growth Reflects Slower Economic Momentum
Italy's economic growth has been revised downward for the second quarter of 2024, with the national statistics agency Istat reporting a growth of 0.6%, down from a previous estimate of 0.9%. This adjustment comes amidst new annual estimates revealed during the national accounts revision announced last month. According to Istat, the GDP, adjusted for seasonal and calendar effects, experienced an increase of 0.2% compared to the preceding quarter and a year-on-year growth of 0.6% compared to the same period last year. Earlier projections indicated a quarterly growth of 0.2% and an annual growth of 0.9%, highlighting a notable shift in economic outlook. The acquired growth rate for the entirety of 2024 has also seen a decline, falling to 0.4% from the initial estimate of 0.6%. This adjustment signals that Italy's recovery may be losing some momentum as it navigates forward in an uncertain economic landscape.
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