Istat cuts Italy 2018 GDP growth forecast to 1.1% from 1.4%

Italy's statistics bureau (Istat) lowered its domestic GDP growth forecast for 2018 to 1.1% from 1.4% forecasted in May.

Key highlights:

   •  Sees 2019 GDP growth forecast at 1.3%.
   •  Government's budget will support domestic demand in 2019.
   •  Net exports will make no contribution to growth.