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Italy's economy will decline in 2020 by 8.3%


June, 08 2020
watermark Economic news

According to the forecast of the Italian statistical office ISTAT, the country's GDP will fall by 8.3% this year and recover at 4.6% next year. The agency noted that the spread of the COVID-19 epidemic and the subsequent containment measures taken by the government caused an unprecedented shock for the Italian economy.


ISTAT also said that this year, household spending on households will be reduced by 8.7%, and investment – by 12.5%. Unemployment will drop to 9.6% due to an increase in the number of unemployed people.


It was noted that about 500 thousand people returned to the country's labor market.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.