Italy's GDP rises 1.5% in second quarter

(ANSA) - Rome, August 16 - Italy's GDP rose 1.5% in the second quarter in year-on-year terms prompting politicians to hail a burgeoning recovery.
    Italian GDP rose 0.4% in the second quarter of 2017 on the first quarter and 1.5% on the first quarter of 2016, ISTAT said in a preliminary estimate.
    The second quarter's 1.5% year-on-year GDP rise is the biggest in six years, since the start of 2011 when it was 2.1%, ISTAT said.
    The acquired GDP rise for 2017 is so far 1.2%, ISTAT said in its new seasonally adjusted estimate. If the current trend continues, however, the year-end gain will be 1.5%, the statistics agency said.
    Premier Paolo Gentiloni hailed the better-than-expected GDP figures, tweeting "#ISTAT 1.5% 2017 growth forecast, a good basis to relaunch the economy and jobs".
    Economy Minister Pier Carlo Padoan hailed the 1.5% second-quarter year-on-year GDP rise saying "it is the most sustained gain since the start of the financial crisis". Padoan also said the government deserved credit for this, saying it had forged policy "along a narrow path". He said the focus would now be on young people with incentives for hiring aimed at cutting high youth unemployment.