Upward revision for Italy’s first-quarter growth

Italy’s economy grew by 0.6 per cent in the first quarter of 2023 compared to the previous three months, slightly more than previously estimated, official figures showed on Wednesday.

Last month’s initial estimate by national statistics office Istat recorded a 0.5-per cent increase in gross domestic product (GDP) in the eurozone’s third largest economy, above the estimate of 0.1 per cent across the single currency area.

The first-quarter growth, which followed a slight contraction of 0.1 per cent in the final three months of 2022, was driven by domestic demand, according to Istat.