PM said he expects contraction
Italian GDP numbers are due tomorrow and PM Conte weighed in earlier today saying he expected a contraction. A second negative quarter following the -0.1% fall in Q3 would put Italy into a recession. However it would be the narrowest of recessions.
"I expect a further contraction of gross domestic product in the fourth quarter," Conte said at an event in Milan broadcast on Facebook. "Analysts tell us we'll likely still suffer a bit at the start of this year but all the elements are there to recover in the second half of the year."
His comments were curious ahead of the data but the stats agency said the numbers aren't given to anyone ahead of time. He simply could have been guessing. The consensus estimate from economists is -0.1% q/q so a negative number is hardly a bold prediction.
