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Italian Economy Shrinks in 4Q Amid Pandemic

Italy’s economy contracted again at the end of the year, reflecting the extent of the economic fallout from the coronavirus pandemic.

The eurozone’s third-biggest economy declined 2.0% on quarter during the fourth quarter, following revised 16.0% growth in the third quarter, the Italian statistics agency Istat said Tuesday in a first estimate for the period. Economists polled by The Wall Street Journal had forecast a 2.2% contraction.

The Italian economy shrank 6.6% on year in the fourth quarter, Istat said. This was less than the 6.8% contraction forecast by economists polled by The Wall Street Journal.
Source: Dow Jones

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