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Italy Growth Lags Below Euro-Area Average, With Record Debt

  • Economy grew 0.3% in 1st quarter, while euro-area average 0.5%
  • Government debt reaches 2.23 trillion euros, highest recorded
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Italy’s economy expanded in the first quarter, while still leaving growth well below the euro-area average as government debt hit a record-high 2.23 trillion euros ($2.53 trillion) in March.

Gross domestic product rose 0.3 percent in the first three months of the year, Rome-based statistics agency Istat said in a preliminary report on Friday. That matched the median estimate of 18 analysts in a Bloomberg survey. GDP was up 0.5 percent in the first quarter in the euro area, according to a separate report.