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Italy's GDP to fall 9% this year, rise 4% in 2021 - Istat

Thursday 3 December 2020 | 15:29 CET | News
Italy's gross domestic product will plunge 8.9 percent this year followed by a recovery of 4.0 percent in 2021, according to the latest estimate from state statistics agency Istat that revised down its earlier predictions of -8.3 percent and 4.6 percent respectively. The forecast has been affected by the second wave of Covid-19, resulting in a 10 percent fall in household spending, said Istat, adding that unemployment rate is set to fall to 9.4 percent this year and 11.0 percent in 2021.

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