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MNI: ITALY DATA: Flash GDP (Q2 2019) Preview -.......>

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MNI: ITALY DATA: Flash GDP (Q2 2019) Preview - 11:00 BST
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- Bloomberg Consensus: -0.1% q/q, -0.1% y/y; Prev (Q1): 0.1% q/q, -0.1% y/y
- Italy is expected to have resumed contracting in Q2, following a brief respite
in Q1 when the economy expanded by a meagre 0.1% q/q... 
- ... after two consecutive quarters of negative growth in H2-18
- Monthly activity data available so far for Q2 suggest that industrial
production, construction output and retail sales all contracted
- Moreover, surveys - incl the Composite PMI and Economic Sentiment Indicator -
showed a worsening in business conditions & confidence during the quarter...
- ... while Istat's consumer confidence index registered its weakest performance
in Q2 for two years
- In addition to a challenging external envt, political turbulence and policy
unpredictability are hindering investment
- While Italy recently averted an excessive deficit procedure, tensions with
Brussels could reignite in the autumn

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