Italy’s Second-Quarter GDP Declines, Showing Recession
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Italy’s economy unexpectedly shrank in the second quarter, falling back into recession and extending a slump that’s lasted most of the past three years.
Gross domestic product fell 0.2 percent from the previous three months, when it declined 0.1 percent, the national statistics institute Istat said in a preliminary report in Rome today. That compares with the median forecast of a 0.1 percent expansion in a Bloomberg survey of 22 economists. Output was down by 0.3 percent from a year earlier.