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Italian GDP Unexpectedly Falls Threatening Recession Exit

Italy’s economy unexpectedly contracted last quarter, signaling the country’s failure to sustain a pullout from its longest recession on record.

Gross domestic product in the three months through March decreased 0.1 percent from the fourth quarter, when it rose 0.1 percent, the national statistics institute Istat said in a preliminary report in Rome today. The decrease contrasts with the median forecast of a 0.2 percent expansion in a Bloomberg survey of 21 economists. From a year earlier, output shrank 0.5 percent.