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Italy’s Economy Grew More Than Anticipated in First Quarter

2023-05-31 16:25
Italy’s economy grew more than anticipated at the start of the year, driven by household spending. Gross domestic
Italy’s Economy Grew More Than Anticipated in First Quarter

Italy’s economy grew more than anticipated at the start of the year, driven by household spending.

Gross domestic product rose 0.6% in the three months through March, from a quarter earlier, Istat said in a statement Wednesday. That compares with an initial reading of 0.5%.

The news will be a boost to Prime Minister Giorgia Meloni, who is making an effort to show investors that she’s leading the country in a fiscally responsible manner. The numbers contrast with a downward revision in Germany last week, which pushed Europe’s biggest economy into its first recession since the start of pandemic.