Italy's GDP plunged by a record 12.4% in the second quarter of 2020 with respect to the first three months of the year because of the coronavirus emergency, according to a preliminary estimate released by ISTAT on Friday.
The national statistics agency said Italy's GDP was down 17.3% compared to the second quarter of 2019.
"After the major reduction registered in the first quarter (-5.4%), the Italian economy suffered an unprecedented contraction in the second quarter of 2020 due to the full development of the health emergency and the containment measures that were adopted," ISTAT said.
It said that this meant that Italy's GDP has "registered its lowest value since the first quarter of 1995".
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