Italy's GDP grows 0.8 pct in 2015: official data

Italy's gross domestic product (GDP) grew by 0.8 percent in volume terms in 2015 compared to 2014, the National Institute of Statistics (ISTAT) said on Tuesday.

The result marked a return to growth for the eurozone's third largest economy after three years of decrease.

In February, the statistics agency had estimated a 0.7 percent annual growth in 2015. However, the output's growth was below expectations if compared to the Italian cabinet's latest forecast, which was raised to 0.9 percent rate in September.

Italy's GDP at current prices increased by 1.5 percent up on an annual basis, ISTAT added.

Official data also showed the budget deficit was 2.6 percent of GDP in 2015, down from 3 percent in 2014.

Italy's public debt, which is the second highest in the eurozone after Greece, grew to 132.6 percent of GDP up to 2.169 trillion euros (2.36 trillion U.S. dollars).

The debt/GDP ratio was 132.5 percent in 2014, revised by ISTAT from 132.3 percent previously reported.

Finally, exports rose by 4.3 percent, and imports increased by 6.0 percent, in 2015, ISTAT said.

In January 2016, unemployment rate remained unchanged at 11.5 percent compared to December 2015, while youth unemployment rate was 39.3 percent, with a 0.7 percent monthly increase.

However, the number of employed people rose to 22.6 million people, with a 0.3 percent growth on a monthly basis.

"Latest statistics show the Italian government is fulfilling its commitments in terms of public finance, within a framework of growth," Economy and Finance Minister Pier Carlo Padoan said.

"The government's strategy has to go along the same lines undertaken so far," he added.

The Italian economy had shrunk by 0.3 percent in 2014, by 1.7 percent in 2013, and by 2.8 percent in 2012. Endit