Economics
Italian Economy May Have Worst Year Since 2013, OECD Says
- Output to shrink 0.2% this year, Paris-based OECD forecasts
- Italy fell into recession at end of 2018, some signs of pickup
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The OECD slashed its forecast for the Italian economy to a 0.2 percent contraction this year, reflecting the effects of the global trade slowdown.
Italy fell into recession at the end of 2018, and is still battling the slump despite a recent increase in exports, fixed investment and domestic consumption. Premier Giuseppe Conte’s government has been dismissive of economists’ negative outlooks, saying output will increase later this year.