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Italy’s economy recovered from a recession in the third quarter albeit at a slower than previously estimated pace, final data from the statistical office Istat showed Tuesday.

Gross domestic product grew 15.9 percent sequentially, in contrast to a 13 percent decline in the second quarter. The rate was revised down from the 16.1 percent expansion estimated initially.

On a yearly basis, GDP fell 5 percent instead of 4.7 percent fall estimated previously.

On the expenditure-side, final consumption expenditure climbed 9.2 percent on quarter and gross fixed investment grew 31.3 percent. Imports and exports grew 15.9 percent and 30.7 percent, respectively.

The production-side breakdown showed that all main sectors added value in the third quarter. Industry and services grew 33.1 percent and 11.9 percent, respectively. Farm output gained 0.2 percent.

The material has been provided by InstaForex Company – www.instaforex.com


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