Italy Q2 preliminary GDP +2.7% vs +1.3% q/q expected

Latest data released by Istat – 30 July 2021

  • Prior +0.1%
  • GDP +17.3% y/y
  • Prior -0.8%

Much like the Spanish report earlier, the Italian economy saw a more solid rebound on looser virus restrictions in Q2 and that reaffirms some added resilience and optimism in the euro area economy over the past few months at least.

This bolsters hopes of a stronger recovery in the summer but the outlook for the remainder of 2H 2021 remains subject to how the virus situation plays out and if supply chain disruptions will pose a bigger challenge to businesses in the months ahead.
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