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Covid-19: Italy plunges into recession, economy shrinks 12.8% in Q2

The Italian economy is also 17.7 per cent smaller than it was in the same period last year.

Topics
Coronavirus | Italy

Reuters 

loss, economy, shares, stocks, market, investment, savings, gdp, growth, revenue
Those figures were worse than preliminary estimates issued in late July of a 12.4 per cent quarterly decline and a 17.3 per cent annual fall

The Italian shrank by more than previously thought during the second quarter as a result of lockdown restrictions imposed to curb the pandemic, official figures showed Monday.

The national statistics bureau ISTAT said the contracted by quarterly rate of 12.8 per cent during the April to June period, with consumer spending largely behind the plunge.

The Italian is also 17.7 per cent smaller than it was in the same period last year.

Those figures were worse than preliminary estimates issued in late July of a 12.4 per cent quarterly decline and a 17.3 per cent annual fall.

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First Published: Tue, September 01 2020. 01:55 IST
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