Steepest GDP contraction on record confirmed
The Italian economy contracted by a record 12.4% quarter-on-quarter in 2Q20, in seasonally-adjusted terms (-17.3% YoY). The second quarter, which had a severe lockdown lasting for more than a full month, was widely expected to be terrible, and this was indeed the case.
As usual at the prelim
Italy: Steepest ever quarterly GDP contraction confirmed | MENAFN.COM