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Thursday, Italian economic think tank ISAE raised its growth outlook for the economy, citing the improvement in the global trade.
The think tank now sees 1% economic growth in 2010, up from 0.6% expansion forecast in October. Growth is expected to accelerate to 1.4% in 2011. The economy contracted 4.9% in 2009.
ISAE sees Italy's exports rising 3.8% this year and imports by 3.2% following a sharp drop in 2009. Consumer price inflation is seen at 1.6% in 2010, up from 0.8% in the previous year. Further rise to 2% is foreseen for 2011. Unemployment rate would be at 8.8% in 2010 and in 2011, up from 7.8% in 2009, ISAE said.
The think tank said Italy's budget deficit will decrease to 5.1% of GDP this year from 5.3% in 2009. It will further fall to 4.6% of GDP in 2011.
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