Economics
Italy Fell Into Deep Contraction Even Before Full Lockdown Hit
- Economy shrank 4.7% in first quarter vs 5.4% forecast
- Stop to non-essential activities was imposed March 23
A pedestrian walks near the Colosseum in Rome, on March 11.
Photographer: Geraldine Hope Ghelli/BloombergThis article is for subscribers only.
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Italy’s economy fell into a deep recession even before suffering the full effect of a drastic economic lockdown.