At the end of 2020, Italy's GDP fell by 6.6 percent compared to the same period in 2019, the National Statistics Institute (ISTAT) announced on Wednesday
GENOA (Pakistan Point News / Sputnik - 03rd March, 2021) At the end of 2020, Italy's GDP fell by 6.6 percent compared to the same period in 2019, the National Statistics Institute (ISTAT) announced on Wednesday.
"In the fourth quarter of 2020, GDP ... decreased by 1.9% compared to the previous quarter and by 6.6% compared to the fourth quarter of 2019," ISTAT said.
The institute added that negative economic trends were recorded for added value in all the main sectors, with agriculture, production and services down by 2.8, 0.7 and 2.3 percent, respectively.
In general, ISTAT estimates the fall of the Italian GDP in 2020 at 8.8 percent. Meanwhile, the European Commission's economic forecast predicted a fall of 9.9 percent, and the International Monetary Fund - a decrease by 10.6 percent.
