Rome

Italy posted negative growth of 0.3% in second quarter

Preliminary estimate of 0.2% revised down

Italy posted negative growth of 0.3% in second quarter

Rome, September 10 - Recession-hit Italy posted negative growth of 0.3% in the second quarter, compared to the first three months of this year, Istat said Tuesday. The national statistics agency made the announcement after revising down last month's preliminary estimate of -0.3% for gross domestic product (GDP) in the second quarter. The April-June period was Italy's eighth consecutive quarter of negative growth as the country endures its longest recession in over two decades. Istat said Italy's GDP was 2.1% down in the second quarter compared with the same period in 2012. Its preliminary estimate for the year-on-year fall in GDP was 2%. The agency added that Italy's growth figures for the second quarter were the worst in the eurozone and also below the levels of the United States and Japan.

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