Italian Economy Shrinks 0.2% as Recession Enters Second Year
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Italy’s economy shrank less than economists forecast in the quarter through September as the country’s fourth recession since 2001 entered its second year.
Gross domestic product declined 0.2 percent from the second quarter, when it decreased a revised 0.7 percent, the National Statistics Institute Istat said in a preliminary report today. The decline was less than the 0.5 percent median forecast in a Bloomberg News survey of 21 economists. It was the fifth quarter of contraction. From a year earlier, output shrank 2.4 percent.