Italy’s GDP expected to grow by 0.7% in 2014 – Istat
In 2014, GDP is expected to return gradually to growth (+0.7%), while it is expected to fall by 1.8% in real terms in 2013, Italy’s national institute of statistics (Istat) revealed.
The report also showed that GDP is expected to fall by 1.8% in real terms mainly driven by a reduction in the domestic demand.
“This is only partially offset by the positive contribution of external demand, as import growth is projected to remain negative and export slightly increasing. Total investment should decline due to tight credit conditions and persistent negative economic sentiment,” Istat said.
Private consumption should appear positive and investments will increase supported by export. As a result, the contribution of domestic demand to output growth is estimated to be positive, the institute also said.