2013.10.3001:32:00UTC+00Italian Economy Probably Contracted In Q3, Istat Chief Says

Italy's economy probably contracted in the third quarter of 2013, extending the country's recession into ninth quarter, the head of the statistical office Istat said during a hearing at the Parliament on Tuesday.

Istat acting chairman Antonio Golini also told lawmakers that the gross domestic product is estimated to fall 1.8 percent in 2013.

Golini said that he expects the economy to see a weak but positive growth in the fourth quarter. In the second quarter, Italy's GDP fell 0.3 percent quarter-over-quarter following a 0.6 percent contraction in the first quarter.

Speaking after Golini's hearing, Finance Minister Fabrizio Saccomanni said he expects the GDP to show a flat reading in the third quarter before the economy starts a gradual recovery.