Italian GDP increases 0.1%

The Italian GDP increased by 0.1% in the fourth quarter in 2013, statistical office Istat said Tuesday. It was the first time that the Italian GDP increases since the second quarter of 2011.The economy had contracted 0.1% in the third quarter of 2013, a down revision from the 0% recorded earlier. The economic recovery in Italy was reflected in other numbers; gross fixed capital formation increased by 0.9%, Imports also increased by 0.2%.Year-on-Year however, GDP decreased 0.9% during the three-month period, faster than the 0.8 percent contraction the government had estimated earlier.