Italy’s gross domestic product stopped shrinking in the third quarter, according to revised data from national statistics institute Istat.
Italian real GDP was unchanged from the previous three months, and down 1.8% from the third quarter of 2012, Istat reported Tuesday. The preliminary estimates were a 0.1% decline on the quarter and a 1.9% contraction on the year.
The new data say Italy’s longest postwar contraction formally ended over the summer after eight consecutive quarters. It also puts the government on track to meet or even beat its forecast that GDP will have declined by 1.8% over all of 2013.
The improvement was led by an inventory buildup, which is a sign of growing confidence among companies that they will be able to sell their output, although domestic buyers may not step up to the plate for a while.
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