The Italian statistical office Istat released its gross domestic product (GDP) forecast data for Italy on Tuesday. The Italian GDP is expected to rise 1.1% this year, down from the previous forecast of 1.4% growth, after a 0.8% rise last year.

According to the Istat, domestic demand is expected to rise 1.3% this year, residential households consumption expenditure to increase 1.4%, while exports to climb 1.7% and imports to jump 2.3%.