Italy to Grow Around 1.5% This Year

Iran News - - INTERNATIONAL -

ROME (Reuters) - Italy’s econ­omy is strength­en­ing and gross do­mes­tic prod­uct (GDP) is likely to grow around 1.5 per­cent this year and in 2018, Bank of Italy Gover­nor Ig­nazio Visco said on Fri­day.

Ital­ian eco­nomic data has been im­prov­ing since GDP rose a stronger-than-ex­pected 0.4 per­cent in the first quar­ter and most economists have re­cently raised their fore­casts, though the coun­try con­tin­ues to lag most of its euro zone peers.

“The cycli­cal im­prove­ment is spread­ing to most in­dus­trial sec­tors,” Visco said in a speech in the cen­tral Ital­ian town of As­sisi.

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