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Confindustria warns of risk GDP growth only 0.5%

Business group says competitiveness hobbled

19 March, 17:01
Confindustria warns of risk GDP growth only 0.5% (ANSA) - Rome, March 19 - Business group Confindustria warned Wednesday that poor competitiveness may hobble Italy's economy and hold growth in gross domestic product (GDP) this year to just above 0.5%.

That is slower than the GDP growth of 0.7% previously forecast by the group.

It said that it feared two factors are weighing on economic growth: global uncertainty and a competitive handicap.

Other organizations such as the Organization for Economic Cooperation and Development (OECD) have forecast average GDP growth of 0.6% for Italy this year.

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