ROME, May 30 (Xinhua) -- Italy's economy grew by 0.7 percent year on year in the first quarter, according to data released Friday by the National Institute of Statistics, slightly higher than the earlier estimate of 0.6 percent.
On a quarterly basis, the country's GDP increased by 0.3 percent. Despite the moderate gains, the statistical carry-over for 2025 annual growth stood at 0.5 percent, falling short of the 0.6 percent target outlined in the government's economic blueprint.
The agency also reported slowing inflation. Preliminary data for May showed a year-on-year inflation rate of 1.7 percent, down from 1.9 percent in April.
Governor of the Bank of Italy Fabio Panetta said Thursday that the country's aging population continues to weigh on its economic potential, with real wages showing little progress over the last quarter-century.
"The aging population and slow birth rate are likely to profoundly affect Italy's growth potential," Panetta said, adding that legal immigration could make a "significant contribution" to supporting growth. ■
