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Italy’s recession is now its longest on record

By Matt Phillips
Reuters / Remo Casilli
At Fiat’s Sevelsud plant in Atessa, in central Italy, there are hopes that things will start picking up.

Italy notched its eighth-straight quarter of declining gross domestic product, as economic output slipped 0.2% for the three months ending in June. The quarterly decline in output wasn’t particularly steep. And along with other recent indicators, that suggests Italy’s economy could move into expansion territory soon. It also means the economy has been shrinking for two full years; That’s the longest recession on record in Italy’s often challenging post-war economic history.