Italy’s GDP increased by 1.8% in the first quarter of this year compared to the same period last year.
The Italian Institute of Statistics, “Stat”, stated that Italy’s gross domestic product increased by 5% in the first quarter of 2023 compared to the previous three months, and it is expected that the annual gross domestic product for 2023 will register a growth of 0.8%.
Year-on-year GDP growth accelerated from 1.4% in the previous quarter to 1.8%, and growth was expected to remain stable at 1.4%.
The Statistical Office stated that the domestic demand for Italian products contributed positively to raising the growth of the gross domestic product (GDP) for the national and foreign components.
