Italian Economy Rebounds Strongly in 3Q, Beating Forecasts
By Maria Martinez
Italy's economy posted a strong rebound in the third quarter,
following a sharp contraction in the second quarter due to the
The eurozone's third-biggest economy grew 16.1% during the third
quarter compared with the previous quarter, the Italian statistics
agency Istat said Friday in a first estimate for the period.
Economists polled by The Wall Street Journal had forecast a 10.6%
The agency also revised data for the second quarter of 2020.
Italy's GDP contracted 13.0% in the period compared with a first
estimate of a 12.4% decline.
The Italian economy shrank 4.7% year-on-year in the third
quarter, Istat said, less than the 10.2% contraction forecast by
economists polled by The Wall Street Journal.
The Italian release follows the publication of the first
estimate of gross domestic product in France, Spain and Germany,
which posted historic rebounds of 18.2%, 16.7% and 8.2% during the
The eurozone as a whole will release the first estimate of its
GDP for the third quarter at 1000 GMT, in which a sharp expansion
Write to Maria Martinez at email@example.com
(END) Dow Jones Newswires
October 30, 2020 05:35 ET (09:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.