Italy growth in 2015 estimated at a disappointing 0.6 per cent

Italy's economy grew by 0.6 per cent last year, below government estimates and economists' forecasts, national statistics institute Istat reported Friday.

Istat said gross domestic product (GDP) grew by 0.1 per cent, on a quarterly and seasonally adjusted basis, in the last three months of 2015. The consensus forecast among economists was 0.3 per cent.

Across 2015, GDP rose by 0.6 per cent, whereas in September the government of Prime Minister Matteo Renzi had counted on a 0.9-per-cent expansion when drawing up its budget plans.

A slowing economy will make it harder for Renzi to balance the books, potentially setting up a clash with European Union budget discipline watchdogs. The Italian leader has long been urging the bloc to ease up on austerity and focus more on creating jobs and growth.

Last update: Fri, 12/02/2016 - 11:55

More from Business

Eurogroup finance ministers agree to debt relief for Greece

Finance ministers from the countries that use the euro agreed Monday in Brussels to a series of relief measures for...

Greek ferry services remain disrupted as strike extended to Friday

Ferry services in Greece will remain disrupted through the week, after a seafarers' union extended an ongoing strike...

Belgrade Stock Exchange joins SEE Link

The Belgrade Stock Exchange (BELEX) has been connected to the South-East European Link, a project started by...

European investors shrug at Renzi resignation after failed referendum

European markets on Monday shrugged off this weekend's failed constitutional reform referendum in Italy with both...

US unemployment rate dips to 9-year low

The US unemployment rate fell in November to 4.6 per cent, a nine-year low, the Bureau of Labour Statistics said...