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MNI: ITALY DATA: Flash GDP (Q1 2019) Review..........>

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MNI: ITALY DATA: Flash GDP (Q1 2019) Review
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- Another positive surprise to round out this morning's EZ economic data...
- ... as the Italian economy climbs out of recession more convincingly than
expected
- GDP growth of 0.2% q/q & 0.1% y/y beat market fcsts of 0.1% q/q & -0.1% y/y...
- ... and follows an unrevised Q4 performance of -0.1% q/q, 0.0% y/y
- While an expenditure breakdown is not provided with the flash release, Istat
reports that the industry, services and agricultural sectors all contributed
positively to Q1 growth
- While fiscal measures will provide support ahead, the outlook for the economy
still looks subdued
- Italy looks likely to have climbed out of recession in Q1, but the economic
outlook remains uninspiring
- Political noise weighs on consumer & business confidence...
- ... while banks have tightened credit standards and loan demand has fallen

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