--Italy's Q4 prelim GDP up 0.8% on quarter, up 2.7% on year
--Italy's Q4 prelim GDP much higher than expectations
--Italy's 2000 prelim GDP +2.8%, in line with govt target
--ISTAT says Italy's Q4 GDP growth led by domestic demand
--Italy's 2000 prelim GDP rise highest since 1995
--Italy's Q3 GDP up unrev 0.6% on Q2; up rev 2.6% on year

By BridgeNews
Rome--Feb. 15--Italian gross domestic product rose a much-stronger-than-expected 0.8% in the fourth quarter from the previous quarter, and rose 2.7% on the year on the back of surging investment and domestic demand in general, according to preliminary data released Thursday by national statistics institute ISTAT. Average 2000 GDP growth was estimated at 2.8%, surprisingly matching the government target. If confirmed, last year's expansion would be the strongest since 1995.
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Analysts canvassed by BridgeNews had forecast a much lower GDP rise of 0.4% on the quarter and 2.3% on the year. In the third quarter, GDP rose an unrevised 0.6% from the second quarter and an upwardly revised 2.6% on the year, from an originally reported 2.5% increase. The fourth quarter jump was even more remarkable considering that there were three less working days in the last period than in the previous quarter and three less than in the fourth quarter of 1999. Italian GDP data are seasonally adjusted but are not adjusted by working days.