Italy Q4 preliminary GDP -2.0% vs -2.0% q/q expected

Latest data released by Istat – 2 February 2021

Prior (Q3) +15.9%; revised to +16.0%Q4 GDP -6.6% vs -6.6% y/y expectedPrior (Q3) -5.0%; revised to -5.1%

Bang on estimates as the Italian economy is estimated to have declined by 8.8% as a whole last year on a non-working day adjusted basis. This just reaffirms the slight softness across the euro area in Q4, which should continue through to Q1 this year.

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