Italy Q4 GDP Revised Higher

(RTTNews) - Italy's economy expanded marginally in the final quarter of 2024, revised from a flat change estimated initially, the latest data from the statistical office showed on Wednesday.

Gross domestic product advanced 0.1 sequentially in the fourth quarter, after remaining stagnant in the third quarter.

On the expenditure side, final consumption expenditure rose 0.2 percent, and gross fixed capital formation grew by 1.6 percent. Meanwhile, exports and imports decreased by 0.2 percent and 0.4 percent, respectively.

Regarding added value, industry recovered by 0.9 percent, while agriculture fell by 0.7 percent and services by 0.1 percent.

On a yearly basis, GDP grew 0.6 percent in the December quarter, revised upwardly from a 0.5 percent stable increase seen in the flash report.

Separate official data showed that Italy's retail sales value dropped 0.4 percent monthly in January, reversing a 0.6 percent recovery in December. Sales of food products dropped 0.3 percent, and those of non-food products slid by 0.7 percent.

On a yearly basis, retail sales growth improved to 0.9 percent from 0.6 percent.