Economics
Bank of Italy Cuts Growth Forecast, Signals Likely Recession
- Nation’s output may have fallen ‘further’ in fourth quarter
- Risk of slump shows need for expansionary budget, says League
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The Bank of Italy cut its growth forecast for this year and next while signaling that the euro region’s third-biggest economy might have slipped into a new recession at the end of 2018.
The economy is seen expanding 0.6 percent this year and 0.9 percent next, down from prior projections of 1 percent and 1.1 percent respectively, the central bank said Friday in its quarterly economic bulletin.