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Italy business lobby sees GDP to fall 10-11% in 2020

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Italy’s main business association Confindustria said on Thursday it saw the country’s gross domestic product (GDP) rising around 9% in the third quarter, but falling 10-11% in the whole 2020.

Confindustria’s forecast for 2020 is more pessimistic than that of the government as Economy Minister Roberto Gualtieri said last week that Italy’s GDP would shrink by not much more than 8% this year.

According to national statistics bureau ISTAT, Italy’s national output fell by 17.7 percent in the second quarter compared to the same period of last year.

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