ROME (dpa-AFX) - Italy's economy expanded for the fourth straight quarter in the three months ending June, in line with the flash data published earlier, the latest data from the statistical office ISTAT showed on Monday.
Gross domestic product rose 0.2 percent sequentially in the second quarter, following a 0.3 percent rise in the first quarter.
On the expenditure side, household consumption grew 0.2 percent, while government consumption expenditure declined by 0.5 percent. The strongest quarterly contribution came from investments, which grew 0.3 percent.
On the other hand, net foreign demand was negative by 0.3 percent, as exports fell faster than imports.
On a yearly basis, GDP advanced at a faster pace of 0.9 percent versus a 0.6 percent increase in the fourth quarter. Further, this was the quickest growth since the first quarter of 2023, as estimated.
Another piece of official data showed that producer prices fell at a slower rate of 1.1 percent annually in July, after a 2.5 percent decline a month ago. The overall decrease was mainly due to 3.0 percent cheaper energy costs.
Monthly, producer prices rose 1.3 percent versus a 0.7 percent gain in June. The upward trend was driven by increases in energy prices and, in particular, in electricity supply on the domestic market.
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