Italian GDP down 0.4% in 2011, Istat says

Household spending same as 2010, disposable income decreased

Italian GDP down 0.4% in 2011, Istat says

(ANSA) - Rome, October 4 - Overall growth for 2011 had dropped to preliminary estimates calculated in March of 0.4% said a report released Thursday with revised gross domestic product (GDP) figures by Italian statistics agency Istat. Overall growth in 2010 was 1.8%. The growth was driven mainly by an increase in exports, up 6.0%, the agency reported. Household spending remained unchanged since 2010 at 0.1%, while disposable household incomes decreased by 0.8% and the savings rate dropped to 8.8% from 9.7% in 2010. The government net borrowing-to-GDP ratio decreased 3.9% in 2011 from 4.5% in the previous year, while the overall government debt was 120.7% of GDP.

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