The ISTAT monthly note data were issued yesterday, indicating that the preliminary estimate of Italian GDP (+0.5%) increased faster than the eurozone average in the third quarter. According to Istat, the increase in economic activity was supported by the recovery of the added value of the service sector, particularly in the commerce, hotels, and public institutions sectors, as well as the transport industry (which accounts for almost 20% of GDP). The accumulated GDP change for 2022 is 3.9%. Following the rise of the previous two months, industrial output fell in September (-1.8% cyclical variation).
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