Italy’s GDP Grows in 2023 Q1

Italy’s gross domestic product (GDP) increased by 1.8 percent in the first quarter of 2023 compared to the same period in 2022.

“In the first quarter of 2023, the seasonally and calendar adjusted chained volume measure of GDP increased by 0.5 percent with respect to the previous quarter and by 1.8 percent over the same quarter of previous year,” the Italian National Institute of Statistics (ISTAT) said in a statement.

Year-on-year GDP growth accelerated from 1.4 percent in the previous quarter to 1.8 percent, despite expectations of remaining stable at 1.4 percent.

ISTAT stated that the domestic demand for Italian products contributed positively to increasing the GDP growth for the national and foreign components.

Source: Qatar News Agency