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Italy Economy Shrank 0.1% in First Quarter

The Italian economy shrank 0.1 percent in the first quarter before industrial production returned to growth in April, the national statistics agency said today.

The final figure for the contraction in gross domestic product matched the preliminary reading released May 15 and was the same as the median estimate of 19 economists surveyed by Bloomberg. In a separate report, the Rome-based Istat agency said industrial output rose 0.7 percent in April from the previous month, when it fell 0.4 percent.