Italy budget watchdog sees GDP shrinking by 0.2% in third quarter

ROME (Reuters) – The Italian economy is set to shrink by 0.2% in the third quarter of the year, the Italian parliament’s budget watchdog said on Wednesday, adding it expected growth of 0.3% for 2023.

In a monthly update, the watchdog cited the impact of rising energy prices linked to the war in Ukraine and said broader inflation was also hitting consumer spending.

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