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Italy's GDP grows 0.2 pct in 1st quarter

Xinhua, May 16, 2017 Adjust font size:

Italy's gross domestic product (GDP) grew moderately in the first quarter of the year against the previous three months, the National Institute of Statistics (ISTAT) said on Tuesday.

The seasonally-adjusted GDP between January and March increased by 0.2 percent compared to the fourth quarter of 2016, according to ISTAT.

It also grew by 0.8 percent compared to the same quarter of 2016.

The industrial sector contracted in the first three months of this year, while services and agriculture were positive.

The Italian economy had expanded by 0.2 percent also in the last three months of 2016 compared to the third quarter of 2016.

Other major economies in Europe posted a larger growth. On a quarterly basis, the GDP increased by 0.8 percent in Spain, 0.6 percent in Germany, and 0.3 percent in both France and Britain.

On a year-to-year basis, it grew by 3.0 percent in Spain, 2.1 percent in Britain, and by 1.7 percent in Germany, while France posted 0.8 percent, the same as Italy. Endit