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Italy's GDP posts zero growth in Q4 2014

Xinhua, March 5, 2015 Adjust font size:

Italy's gross domestic product (GDP) registered zero growth in the last quarter of 2014 and overall dropped by 0.4 percent during last year, the country's national statistics institute, Istat, said on Thursday.

Istat confirmed preliminary data showing that GDP in the October-December period remained unchanged with respect to the previous three months.

On a yearly basis, GDP in the last quarter of 2014 fell by 0.5 percent in comparison with the last quarter of 2013, Istat added.

The latest economic indicators have predicted that the Italian economy in 2015 would see small positive signs of recovery after years of economic crisis.

Istat said earlier this week that unemployment in the country dropped by 0.1 percentage points for the second consecutive month in January to 12.6 percent, while 11,000 jobs were created over December.

Also in January, the unemployment rate for those aged between 15 and 24 fell to 41.2 percent from 41.4 percent the previous month.

In its monthly report released last week, the Rome-based institute said it expected Italy's economic output to rise 0.1 percent in the first quarter of 2015, a trend mostly driven by exports. Endit