Italian Economy Stagnates In Q3

(RTTNews) - Italy's economy remained stagnant in the third quarter after expanding in the previous two quarters, preliminary data from the statistical office ISTAT showed on Wednesday.

Gross domestic product remained flat in the third quarter, following a 0.2 percent rise in the second quarter. Meanwhile, economists had expected the growth to remain stable at 0.2 percent.

On the demand side, there was a positive contribution from the domestic component, especially gross of inventories, while a negative contribution from the net foreign component, the agency said.

On a yearly basis, GDP advanced at a slower pace of 0.4 percent versus a 0.6 percent increase in the second quarter. The expected growth was 0.7 percent.

Separate official data showed that producer prices fell 2.0 percent annually in September, following a 0.8 percent drop in August. Prices have been falling since April 2023. Monthly, producer prices decreased 0.6 percent, which was the first in five months.