Italy provided further evidence Tuesday that the eurozone’s prolonged recession may already be over, after data showed its economy shrank by much less than expected in the second quarter.
Italian gross domestic product fell by 0.2% quarter-over-quarter, confirming the eurozone’s third-biggest economy has now been stuck in recession for two full years — a post-war record.
But the rate of decline has eased considerably in recent months. GDP shrank by 0.6% in the first quarter. And economists had expected a 0.4% slowdown in the second quarter.
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