Italy's GDP falls for the second quarter in a row


Italy's GDP declined in the fourth quarter by 0.1%, as well as in the third quarter, Istat's final data showed. These data pointed to a technical recession in the Italian economy. According to experts, in the fourth quarter, GDP was expected to fall by 0.2%. Among the eurozone countries, only Italy is experiencing a recession. The Association of Italian Entrepreneurs expects a further decline in March due to a further decline in industrial production. At the same time, the February growth of the purchasing managers index in the service sector was unexpected, according to Markit Economics and ADACI, to 50.4 points from the January value of 49.7 points. Consolidated PMI, which rose to 48.8 points, also surpassed the forecast of the economists, who had expected a drop to 48.6 points.

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