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Italian Economy Unexpectedly Stagnates in Threat to Renzi

  • Second-quarter industrial output fell most in almost two years
  • GDP remains about 8 percent below its pre-crisis peak
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The Challenges Facing Italy and Renzi Aren't Shrinking

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Italy’s economy unexpectedly stalled in the second quarter, which will further weigh on Prime Minister Matteo Renzi as he prepares for a referendum on which he has staked his political future.

Gross domestic product was unchanged in the three months through June, Rome-based statistics agency Istat said in a preliminary report on Friday. That compares with the 0.2 percent median estimate in a Bloomberg survey of 25 analysts. The economy grew 0.7 percent from a year earlier.