The Italian economy recovered moderately in the December quarter, in line with the preliminary estimates, marking the first growth since the second quarter of 2011, final figures published by statistical office Istat revealed Tuesday.

Gross domestic product (GDP) edged up a seasonally and working-day adjusted 0.1% sequentially in the fourth quarter, which matched the preliminary estimates. In the third quarter, the economy had contracted by 0.1%, which has been revised down from zero growth recorded earlier.

Contributing to recovery, gross fixed capital formation increased by 0.9%, while the national final consumption remained unchanged. Imports increased by 0.2% and exports by 1. 2%.

Year-on-year, GDP decreased 0.9% during the three-month period, faster than the 0.8% contraction the government had estimated earlier. This followed a 1.9% fall in the September quarter.

In the whole of 2013, GDP advanced 1.8% from the prior year, slightly weaker than the previously estimated expansion of 1.9%.

London South East