Italian Economy Slumps 0.2% In Q4

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The Italian economy unexpectedly contracted a seasonally adjusted 0.2% in the December quarter compared to the September quarter, the country's statistical office ISTAT said on Friday. Analysts were looking for a modest 0.1% expansion after the economy exited recession in the September quarter with 0.6% growth.

On a yearly basis, the gross domestic product contracted 2.8% in the December quarter. This was roughly in line with expectations and follows a 4.6% decline in the preceding quarter.

The Italian economy contracted a working day adjusted 4.9% in the whole of 2009, the statistical office said.

The Italian economy unexpectedly contracted a seasonally adjusted 0.2% in the December quarter compared to the September quarter, the country's statistical office ISTAT said on Friday. Analysts were looking for a modest 0.1% expansion after the economy exited recession in the September quarter with 0.6% growth. (Market News Provided by RTTNews)