ROME (Reuters) -Italy's economy contracted by 0.4% in the second quarter from the previous three months, hit by weak domestic demand, national statistics bureau ISTAT said on Friday, revising down provisional data. ISTAT's preliminary estimate issued on July 31 had pointed to a 0.3% drop in gross domestic product, against analysts' forecasts of a flat reading. On a year-on-year basis, second-quarter GDP growth was lowered to show a 0.4% increase, compared with the 0.6% printout in the flash estimate.
The last time prices rose at a higher rate in the eurozone than in Italy was in September 2022, when the rates were 9.9 per cent and 8.9 per cent, respectively
Births in Italy dropped to a new historic low, below 400,000 in 2022, national statistics bureau ISTAT said on Friday, as the population continued to shrink.