Italy's recession is likely to be longer and deeper than expected after its services sector shrank for the 11th month running in April and at its sharpest rate for almost three years. A collapse in consumer spending following cuts in wages, benefits and pensions was behind the fall in output shown in Friday's data and follows the worst manufacturing numbers for three years earlier in the week. The dire figures from Rome added to a picture of weakening demand across the eurozone's vast services sector, which shrivelled at a much faster rate in April than initially thought. Economists suggested that the currency bloc's ... (full story)