Italy's GDP has been falling for two quarters in a row, with the key economic index dropped by 0.1 percent quarter-on-quarter from July to September, Istat specified.
Meanwhile, the country's GDP increased by 0.1 percent year-on-year in the fourth quarter of 2018, while the general 2018 year-on-year increase made one percent, compared to 1.6 percent increase registered in 2017, Istat added.
READ MORE: Italy Never Considered Withdrawal From EU, Eurozone — Economy, Finance Minister
The statement comes after Italian Prime Minister Giuseppe Conte voiced on 30 January the belief that the country's GDP could resume its growth in the second quarter of 2019. He also said that the GDP decrease had been triggered by external factors, including the US-Chinese trade dispute.
A month before that, the Italian parliament passed the bill on the state funds for the next fiscal year and the estimates for the 2019-2021 period after three months of a deadlock by the European Commission over the budget that the EU criticised initially. The new bill cuts the budget deficit from a planned 2.4 percent to 2.04 percent of GDP.
