Italy Q1 Growth Slow

The Bank of Italy said on Friday economic growth and industrial output probably slowed during the first three months of the year compared to the end of 2017, Reuters reported. “During the first quarter of this year, the gross domestic product probably continued to expand, though at a slower rate than the previous period,” the central bank said in its latest economic bulletin. Italy’s economy, the eurozone’s third biggest, probably expanded 0.2% in the first quarter versus the previous period, compared with a 0.3% gain during the final quarter of last year, the bulletin said. Industrial production was virtually flat during the first three months of this year, the bulletin said, after expanding 0.9% versus the previous quarter at the end of last year. GDP increased 1.5% last year and the caretaker government of Prime Minister Paolo Gentiloni forecasts the same growth rate for 2018, leaving Italy in its customary position amongst the most sluggish economies in the eurozone. Italian industrial output was much weaker than expected in February, data showed on Tuesday, unexpectedly falling for the second month running.