ROME: Italy’s economy stagnated in the second quarter as estimated initially as consumption remained unchanged and investments declined, latest data from ISTAT showed Friday. Gross domestic product was unchanged, on a seasonally-and-calendar-adjusted basis, from the first quarter, when the economy grew 0.3 percent. The economy failed to grow for the first time since the final three months of 2014, when it stagnated.
Final consumption expenditure was unchanged and gross fixed capital formation declined 0.3 percent. Exports and imports rose 1.9 percent and 1.5 percent, respectively. On a year-on-year basis, GDP grew 0.8 percent in the second quarter, which was revised from the 0.7 percent estimated earlier. In the first quarter, growth was 1 percent. The latest pace of growth was the slowest in three quarters.
