Italy Recorded the Strongest Economic Growth of 6 Years
Italy reported its strongest economic growth in six years, according to official data released on Wednesday and quoted by DPA.
Calculated on a quarterly basis, the Gross Domestic Product (GDP) of the country grew by 0.4 per cent between April and June, and by 1.5 per cent during same period last year. Growth of 1.5 per cent is the highest recorded since the first quarter of 2011, when the third largest economy in the euro area rose by 2.1 per cent. Acceleration is driven by industry, services and domestic demand. The data show that the recovery of the Italian economy is stronger than previously expected. Last month, the country's central bank predicted growth of 1.4 per cent for the current year. The favorable trend is a relief for the center-left government in Rome and gives it extra room for maneuver while preparing its budget plans for the coming year and preparing for the parliamentary elections in the second half of 2018.
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