Italian GDP Experiences a Slight Decline in Q2

In a preliminary report released on Wednesday, Italy's National Institute of Statistics (Istat) revealed a 0.1% quarter-on-quarter decline in the country's gross domestic product (GDP) for the second trimester. This figure fell short of analyst expectations, marking a concerning trend for the Italian economy.

Annual Growth Offers a Silver Lining

Despite the quarterly dip, the annual GDP showed a modest increase of 0.4%, providing a glimmer of hope amidst the economic slowdown.

Sectoral Analysis Reveals Mixed Results

"The slight quarterly decrease is attributed to a drop in value added within agriculture, forestry, fishing, and industry sectors, while services remained neutral. On the demand side, the domestic component (excluding inventory changes) positively contributed, whereas the net export component negatively impacted the overall GDP," Istat elaborated.