Investing.com - Official data on Thursday showed that Italy's economy shrank for the ninth consecutive quarter in the three months to September, underlining fears over the fiscal health of the euro zone's third largest economy.
In a report, ISTAT, Italy's statistical office said the country's gross domestic product contracted by a seasonally adjusted 0.1% in the third quarter, in line with expectations.
Italy’s economy shrank 0.3% in the preceding quarter.
Annualized GDP declined at a rate of 1.9%, worse than expectations for a drop of 1.8%, after falling 2.2% in the second quarter.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.24% to trade at 1.3453.
Meanwhile, European stock markets were broadly higher. Italy's FTSE MIB 40 climbed 0.35%, the EURO STOXX 50 advanced 0.95%, France's CAC 40 rose 0.95%, Germany's DAX jumped 0.85%, while the FTSE 100 added 0.75%.
In a report, ISTAT, Italy's statistical office said the country's gross domestic product contracted by a seasonally adjusted 0.1% in the third quarter, in line with expectations.
Italy’s economy shrank 0.3% in the preceding quarter.
Annualized GDP declined at a rate of 1.9%, worse than expectations for a drop of 1.8%, after falling 2.2% in the second quarter.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.24% to trade at 1.3453.
Meanwhile, European stock markets were broadly higher. Italy's FTSE MIB 40 climbed 0.35%, the EURO STOXX 50 advanced 0.95%, France's CAC 40 rose 0.95%, Germany's DAX jumped 0.85%, while the FTSE 100 added 0.75%.