The plus sign has already disappeared. In the first quarter of 2014, the Italian gross domestic product fell by 0,1% compared to the previous three months and by 0,5% on an annual basis. The data are contained in the preliminary estimates published this morning by Istat.
The economic downturn "is the synthesis of an increase in added value in the agricultural sector, a negative trend in industry and a zero change in the services sector", explains the Statistical Institute. The variation acquired for 2014 – which is obtained by assuming zero cyclical variations in GDP in the coming quarters – is equal to -0,2%.
GERMANY
Also in the first quarter of the year, the German economy grew by 0,8% compared to the previous three months, recording the strongest expansion for three years now. The figure beats the estimates (which stopped at +0,7%) and marks a clear acceleration compared to the fourth quarter of 2013 (+0,4%). On an annual basis, the German GDP marks +2,3% seasonally adjusted.
FRANCE
France's GDP, on the other hand, remained unchanged in the first quarter of 2014, on an economic basis, according to preliminary data published this morning by the National Statistics Office, Insee. The survey is lower than the estimates of economists, which indicated a growth of 0,2%. Insee also revised the figure for the fourth quarter of 2013, to +0,2% compared to the 0,3% of the previous reading.
JAPAN
Spectacular growth in Japan, which between January and March recorded an expansion of 1,5% compared to the previous three months (the highest rate in the last 10 quarters) and 5,9% on an annual basis. The data is far higher than analysts' expectations, which had forecast a rise of 1% on the previous quarters and 4,2% on the year.
UK & USA
Lastly, in the same period, GDP increased by 0,8% in the United Kingdom in cyclical terms and showed no change in the United States. In trend terms, there was an increase of 3,1% in the United Kingdom and 2,3% in the United States.
