Italy Saw Slight Growth in the First Quarter, Central Bank Says

(Bloomberg) -- Italy’s economy grew only “slightly” in the first quarter, according to the Bank of Italy.

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“The weakness in consumption, which may only partially recover the decline from the end of last year, is likely accompanied by a slight increase in private investment,” the central bank said in its April economic bulletin.

Manufacturing probably held back growth even as services increased, the report said.

Italy’s economy has been struggling with high interest rates and a weakening in the economies of its main trading parters, particularly Germany. The central bank has a growth forecast of 0.6% for 2024, much lower than the government’s 1% prediction.

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