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Italy economy likely to remain weak in coming months - ISTAT

Economic IndicatorsSep 05, 2016 09:50
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© Reuters. Italy economy likely to remain weak in coming months - ISTAT

ROME (Reuters) - Italy's economy will likely remain weak in the coming months amid flagging domestic demand and sliding industrial productivity, national statistics office ISTAT said on Monday.

The euro zone's third-largest economy emerged from a three-year recession in 2015 but has progressively slowed, piling pressure on Prime Minister Matteo Renzi.

When data showed output growth ground to a halt in the second quarter, the Treasury said it would revise its growth target, which is currently set at 1.2 percent for 2016.

In May, ISTAT lowered its own forecast to growth of 1.1 percent this year, while the International Monetary Fund and Organisation for Economic Cooperation and Development expect growth of no more than 1 percent.

The services sector offered some cheer for the economy in August, a survey showed on Monday, accelerating slightly for the third month in a row.

Italy economy likely to remain weak in coming months - ISTAT
 

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