Italian Economy Flatlines In Third Quarter, Turning Screws On Populists

Italian Economy Flatlines In Third Quarter, Turning Screws On Populists

There's more bad news for Italy. A day after Italian equities (and especially banks) staged a rousing relief rally in response to S&P's decision to hold off on a downgrade, yields are higher and stocks are lower after Istat said economic growth flatlined in the third quarter. The preliminary read on Q3 GDP showed growth unchanged QoQ, and up 0.8% YoY. That was a disappointment - economists were expecting the economy to expand 0.2% in the period. Out of 31 estimates, nobody predicted th
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