Italian Economic Growth Beats Govt Forecast

Rome, (UrduPoint / Pakistan Point News - 30th Jul, 2021 ) :Italy's economy grew by 2.7 percent in the second quarter, helped by better demand and a gradual return of services and industry, national statistics agency Istat said Friday.

The increase in gross domestic product (GDP) beat the expectations of Economy Minister Daniele Franco, who earlier this month said he expected growth of "close to 2 percent".

Italy, which is gradually recovering after feeling the worst of the coronavirus pandemic last year, expects GDP growth of 5 percent for 2021.

The second-quarter growth -- which is a preliminary estimate -- marked an 17.3 percent improvement over the same quarter last year.

The second quarter of 2021 benefits from one additional working day compared to the first quarter, Istat said.