ROME (Reuters) – The Italian economy grew by 5.0% in the second quarter compared with the same period of 2021, national statistics bureau ISTAT reported on Wednesday, revising up a previous estimate of 4.7% made last month.
ISTAT confirmed quarter-on-quarter growth at 1.1%.
The revision of the annual growth rate increases the platform of so-called “acquired growth” going into the third quarter to 3.6%, from 3.5% previously.
This means that even if there is no quarterly growth for the remainder of the year, full-year GDP will still be up 3.6% from 2021.
The revision was part of ISTAT’s regular data release calendar.
(Reporting By Gavin Jones)
