ROME, Nov 12 (Reuters) - Italy's economy grew 0.2 percent in the third quarter, slightly below expectations, after a 0.5 percent increase between April and June, preliminary data showed on Friday. A Reuters survey of 27 analysts had pointed to a third quarter increase of 0.3 percent. Official statistics agency ISTAT reported that gross domestic product was up 1.0 percent year-on-year, just under forecasts of 1.1 percent and slowing from a rise of 1.3 percent in the second quarter. Earlier on Friday, data from Germany, the euro zone's largest economy, showed GDP rose 0.7 percent q/q in the third quarter, in line with forecasts, while France posted a rise of 0.4 percent, marginally shy of expectations of 0.5 percent. The three nations make up around two thirds of the euro zone economy.
Aggregate euro zone will be released at 1000 GMT, with the median forecast in a Reuters survey pointing to rises of 0.4 percent q/q and 1.9 percent y/y. ISTAT gave no mumerical breakdown of GDP components with its preliminary estimate, saying only that activity in industry and services both expanded, while agriculture contracted. Itsaid so called "acquired growth" at the end of the third quarter stood at 1.0 percent. This means that if GDP posts a flat quarterly reading in the final three months of 2010, over the whole year it will be up 1.0 percent from the previous year. ISTAT gave the following details: Q3 2010 Q2 2010 Q1 2010 Q/Q (pct change) 0.2 0.5 0.4 Y/Y (pct change) 1.0 1.3 0.5 Overall value (bln euro) 305.422 304.867 303.428 (Gavin Jones, +39 06 8522 4232, fax +39 06 854 0568 email@example.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.