Italy's?economy?contracted in the second quarter, lin line with the previous estimate, the latest data from the statistical office ISTAT showed on Wednesday.
Gross domestic product dropped 0.4 percent sequentially in the second quarter, in contrast to the 0.6 percent increase in the first quarter.
On the expenditure side, final consumption remained stagnant from the previous quarter, and gross fixed investments dropped by 1.7 percent. Imports were stationary, while imports were 0.6 percent lower compared to last year.
Negative economic trends were noted for added value in all the main production sectors, with agriculture, industry, and services decreasing by 1.4 percent, 1.2 percent, and 0.1 percent, respectively.
Year-on-year, economic growth slowed to 0.3 percent from 2.1 percent in the first quarter. This was the slowest growth since the first quarter of 2021. That was below the 0.4 percent growth seen in the second estimate published on?September 1.
