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Italy’s economy expanded at a faster pace in the second quarter, the preliminary estimate from the statistical office Istat showed on Friday.

Gross domestic product grew 2.7 percent sequentially in the second quarter, much faster than the 0.2 percent expansion posted in the first quarter. Economists had forecast a moderate 1.3 percent growth.

Year-on-year, growth came in at a double-digit 17.3 percent, in contrast to a 0.7 percent fall seen in the first quarter. Economists had expected 15.6 percent growth for the second quarter.

From the demand side, there is a positive contribution to quarterly growth from both the domestic component, namely gross of change in inventories and the net export component.

The carry-over annual GDP growth for 2021 was equal to 4.8 percent.


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