ROME, Dec. 4 (Xinhua) -- The Organization for Economic Cooperation and Development (OECD) on Wednesday released data forecasting that Italy's economy would grow by just 0.5 percent this year, falling below estimates from other sources.
Earlier this week, Italy's National Statistics Institute, ISTAT, reported that the economy grew 0.5 percent over the first nine months of the year.
The OECD's full-year growth estimate is notably more cautious than other projections. The Italian government has forecasted a 1.0 percent growth rate for 2024, while the European Commission's mid-November projections predict a 0.7 percent increase.
For the next two years, the OECD's outlook aligns more closely with the European Commission's estimates. The OECD predicts Italy's economy will grow by 0.9 percent in 2025 and 1.2 percent in 2026, compared to the European Commission's forecasts of 1.0 percent and 1.2 percent for the same years.
