EU Cuts Italy GDP Forecasts, Says Exports Needed
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The European Commission cut Italy’s economic forecasts for this year and next, saying the country will need to rely on an increase in exports to return to growth in 2015.
The country’s economy will contract 0.4 percent in 2014 and expand 0.6 percent next year, the Brussels-based executive arm of the European Union said today in its autumn economic forecasts. That compares with a May forecast predicting a 0.6 percent expansion this year and a 1.2 percent increase next year.