Italian GDP growth in Q2: +0.2%, France and Spain grow, Germany disappoints
The Italian economy grew by 0.2 per cent in the second quarter, while France and Spain showed positive growth. However, Germany disappointed with a contraction of 0.1 per cent.
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According to Istat's preliminary calendar-adjusted estimate, the Italian economy grew by 0.2 per cent in the second quarter of 2024 compared to the previous quarter, when it recorded +0.3 per cent. The second quarter of 2024 had two fewer working days than the previous quarter. The change in the economy was the result of a decrease in value added in agriculture, forestry and fishing and in industry and an increase in services. In trend terms, GDP increased by 0.9 % in the second quarter.
Urso, we grow more than other countries, aim to confirm tax wedge
GDP acquired for 2024 at +0.7%
.The acquired change in Italian GDP for 2024 is +0.7% in the light of the estimate of the economic accounts for the second quarter published today by Istat (+0.2%). In the first quarter, the acquired growth was +0.6%. The acquired change is the one that would be obtained if the growth of the Italian economy were zero in the next two quarters. In the Def, the government forecast a trend growth for 2024 of 1%.
France, output marks +0.3% (above forecast)
Economic performance smiles on other eurozone countries. France's GDP grew by 0.3% in the second quarter, supported by foreign trade and a pick-up in business investment. This was announced by the Insee. This first estimate of the growth of the French economy between April and June by the institute is higher than the forecast of a 0.1% increase compared to the first quarter, during which GDP rose by 0.3% (revised upwards by 0.1 points).
In Spain growth of 0.8%
.For Spain, the figure shows +0.8% in the second quarter of the year, a rate similar to the previous quarter, thanks to the good performance of exports and imports, which contributed an increase of 0.5 points, and, to a lesser extent, domestic consumption, according to data published today by the National Statistics Institute. Year-on-year GDP growth continued strong at 2.9 per cent in the second quarter. Exports grew by 1.2 per cent compared to the first quarter of the year, while imports fell by 0.2 per cent.
