Italy ends two-year run of negative growth

(ANSA) – Rome, December 10 – Italy ended a two-year run of negative growth in the third quarter of this year, when gross domestic product (GDP) was flat with respect to the previous three months, Istat said Tuesday. The national statistics agency revised its initial estimate of a 0.1% drop in GDP for the July-September period with respect to the second quarter of 2013. Istat also revised its year-on-year GDP figure from 1.9% down with respect to the third quarter of 2012 to 1.8% down.

Italy has been in recession since the second half of 2011, with eight consecutive quarters of negative growth making this the longest downturn in over two decades.

“The end of the recession cannot yet be declared,” said Istat.

It said that, in part, this was because “it is not Istat’s job” to certify the end of the recession.