Italy economy to shrink 8.3% in 2020
Visitors throng the Uffizi Gallery in Florence, Italy. The fallout from the country's lockdown is expected to be nasty, with various institutions forecasting the economy shrinking between 9.2% and 14%. – EPA pic, June 8, 2020.
ITALY’S economy is set to shrink 8.3% this year as the coronavirus crisis takes its toll, according to a forecast today by the National Institute of Statistics . The eurozone’s third largest economy is expecting its worst recession since World War II after a nationwide lockdown was imposed for more than two months to try to bring the pandemic under control.
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