Italy Contraction Slows as Recession Lasts Record Two Years
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Italy’s recession, the country’s longest since World War II, eased in the second quarter amid gains in business and household confidence.
Gross domestic product contracted 0.2 percent from the first quarter, when it fell 0.6 percent, national statistics institute Istat said in a preliminary report published in Rome today. Economists predicted a decline of 0.4 percent, according to the median of 24 forecasts in a Bloomberg News survey. From a year earlier, output fell 2 percent.