Home/FX/Newsfeed

Inventory Buildup Helps Italian Economy To Stop Contracting

Share Print 0

Italy’s gross domestic product stopped shrinking in the third quarter, according to revised data from national statistics institute Istat.

Italian real GDP was unchanged from the previous three months, and down 1.8% from the third quarter of 2012, Istat reported Tuesday. The preliminary estimates were a 0.1% decline on the quarter and a 1.9% contraction on the year.

The new data say Italy’s longest postwar contraction formally ended over the summer after eight consecutive quarters. It also puts the government on track to meet or even beat its forecast that GDP will have declined by 1.8% over all of 2013.

The improvement was led by an inventory buildup, which is a sign of growing confidence among companies that they will be able to sell their output, although domestic buyers may not step up to the plate for a while.

via WSJ.com

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top