Italy reports 0.7 pct economic growth in 2023

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Italy reports 0.7 pct economic growth in 2023

STORY: Italy reports 0.7 pct economic growth in 2023 SHOOTING TIME: Feb. 1, 2024 DATELINE: Feb. 1, 2024 LENGTH: 00:00:44 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of shops in Rome 2. various of markets in Rome STORYLINE: Italy's economy grew by 0.7 percent year-on-year in 2023 after calendar and seasonal adjustment, according to Italy's National Institute of Statistics (ISTAT) on Tuesday. The statistics entity also said that the Italian economy increased by 0.2 percent in the final quarter of 2023 compared to the previous quarter, and by 0.5 percent compared to the same quarter of 2022. The economic change in the fourth quarter was the result of a decrease of value added in agriculture, forestry and fishing, as well as an increase in that of both industry and services, ISTAT said. Italy's economy showed positive growth for two consecutive economic quarters after alternating expansion and contraction over the four previous quarters, it said. According to recent estimates from ISTAT, the coun

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