March 3, 2020 / 1:15 PM / a month ago

Italy's Confindustria sees intensifying GDP drop in H1 due to coronavirus

ROME, March 3 (Reuters) - Italy’s business lobby Confindustria said on Tuesday that the coronavirus outbreak will strongly impact economic growth in the first half of 2020, sending the country into a deepening recession.

In a statement, Confindustria said gross domestic product would fall in the first quarter, with a “stronger contraction” between April and June due to the epidemic that has killed more than 50 people in Italy and heavily disrupted economic activity.

Italian GDP already declined 0.3% in the fourth quarter of last year from the previous quarter, before the coronavirus outbreak struck.

Reporting by Francesca Piscioneri, editing by Gavin Jones

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