ROME — Italy’s economy continued to expand in the second quarter, outperforming expectations despite a weaker international backdrop, with quarterly GDP rising 0.2% and annual growth now projected at around 1%.
Why it matters: The figures reinforce Italy’s image as one of the more resilient large economies in the eurozone at a time when external demand remains weak and growth across Europe is uneven.
The big picture: Domestic demand continues to support activity even as export-oriented sectors face pressure from softer global demand.
- The data also point to a labor market that remains broadly solid, with employment higher than a year ago and unemployment lower, although permanent jobs declined compared with the previous month.
Zoom out: According to the reported figures, Italy outpaced both Germany and France in quarterly growth, while Spain continued to expand at a faster pace.
What they’re saying: Prime Minister Giorgia Meloni hailed the figures as evidence that Italy is outperforming expectations despite a challenging international environment.
- “Once again, Italy is doing better than forecasts,” she said, adding that the government would continue working to “surprise” its critics.
Between the lines: The government argues the data confirm the economy is performing better than expected despite international headwinds, while the latest figures are likely to remain part of the domestic political debate over Italy’s economic trajectory.
The bottom line: Italy is not delivering rapid growth, but the latest data suggest it continues to outperform expectations and compare favorably with some of the eurozone’s largest economies.
