Italy's Gualtieri: Government expects GDP to bounce back in Q1 after disappointing Q4

The Italian government expects the Gross Domestic Product (GDP) to bounce back in the first quarter of 2020 following the disappointing growth recorded in the last quarter of 2019, Economy Minister Roberto Gualtieri said on Friday, per Reuters.

"The government is confident that measures adopted will support growth," Gualtieri added. "Fourth quarter GDP was affected by outside factors including weather in November."

Regarding the coronavirus crisis, Gualtieri noted that it was too early to estimate the impact of the outbreak on the economy.

Market reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1030, where it was virtually unchanged on a daily basis.