ROME, Jan. 31 (Xinhua) -- Italy's gross domestic product (GDP) grew by 6.5 percent in 2021 compared to the previous year, the country's National Institute of Statistics (ISTAT) said on Monday in a preliminary estimate.
According to seasonal and calendar-adjusted data, the national output was up 0.6 percent in the fourth quarter of last year against the third quarter, and up 6.4 percent against the same period in 2020.
"The Italian economy expanded for the fourth consecutive quarter, albeit at a slower pace than in the previous periods," the agency stated.
"The quarter-on-quarter change is the result of a decrease of value-added in agriculture, forestry and fishing and an increase in both industry and services."
The agency further explained that the quarterly growth in the last quarter of 2021 was strongly sustained by domestic demand and felt the negative effects of the net export component.
Overall, the estimated 6.5 percent annual growth in 2021 would be a partial rebound from the 8.9 percent drop registered in 2020, when the country was hit hard by the COVID-19 pandemic.
Yet, it is the highest annual growth the country has registered since 1976, the chief of ISTAT's Directorate for National Accounts, Giovanni Savio, told a press conference on Monday. ■
