Italian economic growth set to remain weak in near term
The euro zone’s third largest economy has been largely stagnant for the last seven quarters. Gross domestic product rose 0.1% in the third quarter on a quarter-on-quarter basis after an identical reading in the second quarter, data showed in November.
“The leading indicator maintains a negative profile, suggesting the continuation of weakness in production levels,” ISTAT said.
ISTAT last month revised its forecast for Italian gross domestic product growth in 2019 to 0.2% from a previous 0.3% projection made in May. Last September, the Italian government revised its growth target for 2019 down to 0.1%.