Economics
Italy Economy Starts to Switch Off, Literally, to Stop Virus
- Electricity use fell 11% in last seven days, Terna data shows
- Slump gives first taste of country’s economic slowdown
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Italy’s electricity consumption dropped in the past week, a first sign of the deep economic impact of the national lockdown imposed to halt the spread of the coronavirus.
Factories and shops are shuttered across the country, including fashion designer Armani’s restaurants and hotels, and Ferrari NV and Lamborghini’s car production. Daily calculations show an 11 percent drop in electricity on the Terna SpA network in the week through March 18.