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November 12, 2010    

Italian growth slows in Q3

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by Kay Murchie
Italian growth slows in Q3

Official figures today showed Italian economic growth slowed in the July to September period.

Italy’s statistics office, Istat, said the economy expanded by 0.2% in the third quarter, slowing from the 0.5% growth recorded in the second quarter.

The growth rate was half the 0.4% expected by analysts. On an annual basis, meanwhile, the economy grew by 1% - again missing expectations of a 1.2% growth rate.

In the meantime, the country’s central bank said public debt reached €1.85 trillion in September - this represents one of the highest levels in the world after Japan and the US.

In other news today, Germany, which is Europe’s largest economy, saw a slowdown in quarter three economic growth after a record second quarter.

German statistics office, Destatis, said the economy grew 0.7% in the July to September period – compared with the record expansion of 2.3% in the April to June quarter – which represented the fastest since German reunification in 1990.

The 0.7% figure was slightly lower than expectations of 0.8%. However, slower growth was expected, according to Destatis.

On an annual basis, the German economy grew by a staggering 3.9%.

In the meantime, France, experienced growth of 0.4% in the third quarter – slower than the 0.7% reported in the previous quarter, according to statistics office, INSEE.

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