Italian economy grows 0.2% in 2nd quarter

ISTANBUL

Italy’s gross domestic product rose 0.2% in the second quarter of 2024 compared to previous quarter, according to preliminary estimates released on Tuesday.

"After a slight decline in the second quarter of 2023, this growth represents the fourth consecutive positive result,” the Italian National Institute of Statistics said in a statement.

On a yearly basis, the Eurozone's third-largest economy Italy, expanded 0.9% in second quarter.

With acquired variation growth of 0.7% at the end of the second quarter, the statistics bureau signaled that the quarterly increase could be the fourth in a row.

The current estimate is driven by the growth of the tertiary sector, which makes a positive contribution to GDP growth on the production side, as opposed to the negative contributions made by both the agriculture, forestry and fishing sector and industry, it added.