Italy final Q1 GDP up 0.3 pct vs Q4; revised up vs preliminary data

Jun 8, 2007 - Italian final GDP rose 0.3 pct in the first quarter from the fourth, compared to the 0.2 pct rise previously released in preliminary data on May 15, statistics office ISTAT said.

Final first-quarter GDP rose 2.3 pct year-on-year, unchanged from the preliminary data, ISTAT said.

The first-quarter data is adjusted for seasonal variations and the number of working days. The first quarter had three working days more than in the fourth quarter and the same number as the first three months of 2006.

Economists polled by Thomson Financial had forecast a 0.1 pct rise quarter-on-quarter and a 2.2 pct annual gain.

In the fourth quarter, the Italian economy grew by 1.1 pct from the third quarter and by 2.8 pct year-on-year.