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Italian GDP slumps 4.7% in Q1

Thursday 30 April 2020 | 15:57 CET | News
Italy's gross domestic product plummeted by 4.7 percent in the first quarter of 2020 compared to the previous three months, according to preliminary data from state statistics agency Istat. The "exceptional contraction" was due to declining activity following the nationwide lockdown imposed to halt the spread of Covid-19, said Istat, adding that the country is now officially in recession after the previous quarter's 0.3 percent drop.

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