Italy came out of recession in the second quarter, as its GDP rose 0.7 pct from the first quarter and rose 0.1 pct year-on-year, according to a preliminary estimate adjusted for working days, released by the statistics office ISTAT. The quarter-on-quarter rise, which follows two consecutive quarters of negative growth, is higher than an AFX consensus estimate for a 0.3 pct rise, while the year-on-year forecast was for a 0.3 pct drop. The second quarter had one working day more than the first quarter and the same number as a year ago.