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Italy Data Recap: GDP Boost Supported by Services and Industry

ITALY DATA
MNI (London)
  • The Italian economy expanded by a substantial +0.5% q/q in the Q1 prelim estimate, outpacing consensus expectations of a +0.2% q/q uptick and rebounding from the -0.1% q/q contraction in Q4.
  • ISTAT's brief Q1 flash report highlighted that positive growth in services and industry supported Q1 GDP, whilst inventories and net exports provided a boost on the demand side.
  • As such, at first glance the Italian Q1 GDP uptick appears more sustainable than French and Spanish growth posted today, which was chiefly supported by stronger exports.

Source: ISTAT

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