Economics
Italy Economy Contracted, Complicating Populist Growth Plans
- Downward revision to -0.1% after initial reading of no change
- Government aims for major economic boost for next year
Photographer: Alessia Pierdomenico/Bloomberg
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Italy’s economy contracted in the third quarter, in a revision that will complicate the populist government’s growth plans.
Statistics agency Istat’s final reading showed the economy shrank 0.1 percent in the three months through September, after a preliminary reading on Oct. 30 showed no change. It was the first contraction since the second quarter of 2014.