August 3, 2018 / 10:17 AM / 8 months ago

Italy statistics office sees economy slowing in coming months

FILE PHOTO: Duomo's cathedral and Porta Nuova's financial district are seen in Milan, Italy, May 16, 2018. REUTERS/Stefano Rellandini

ROME (Reuters) - Italian economic growth is likely to weaken in coming months, national statistics office ISTAT said on Friday.

In its monthly economic bulletin, ISTAT said its latest composite leading indicator “continues to decline,” as it has throughout this year, “signalling a continuation of the current phase of slowing economic growth.”

Gross domestic product rose a quarterly 0.2 percent in the second quarter, data showed earlier this week, following a 0.3 percent rise in the first three months, and was up just 1.1 percent on an annual basis.

The 0.2 percent quarterly rate was the slowest since the third quarter of 2016, while the 1.1 percent annual rate was the slowest since the fourth quarter of the same year.

Economy Minister Giovanni Tria said last month the 1.5 percent full-year 2018 growth forecast inherited from the previous centre-left administration will probably have to be revised down due to slowing exports and industrial output.

Reporting By Gavin Jones

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