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IMF revises down 2014 growth forecasts for Italy

GDP set to increase 0.6% this year

21 January, 15:56
IMF revises down 2014 growth forecasts for Italy (ANSA) - New York, January 21 - The International Monetary Fund said Tuesday that it had revised down its growth forecasts for recession-battered Italy for this year.

Italy looks to be emerging from its longest recession in two years, as gross domestic product (GDP) was flat in the third quarter of last year with respect to the second, ending a run of eight consecutive quarters of negative growth.

The IMF said it expects the Italian economy to grow 0.6% this year, 0.1% less than in its previous forecast.

In compensation, the IMF revised its 2015 GDP forecast up by 0.1% to 1.1%.

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