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MNI BRIEF: BOI Sees "Modest" Q2 EZ Growth Driven By Services

(MNI) Rome

The latest data suggest that euro area GDP continued to "edge up" in Q2, driven mainly by the service sector, the Bank of Italy estimates in its latest economic bulletin published on Friday. (see MNI SOURCES: Growth Rises Up List Of ECB's Concerns)

Industrial activity appears to have remained weak and available data points to "a decline in value added in construction".

Looking at Italy, the current account surplus widended in Q1, reflecting an improvement in the goods balance, with non-resident investors making "sizeable net purchases of Italian securities".

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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