MILAN (Reuters) – Think tank Prometeia on Thursday said it expected Italy to fall into recession in the first quarter following the coronavirus outbreak in northern regions and as it forecast a 0.3% contraction in economic output for 2020.
The Bologna-based institute said it also expected the economy to contract 0.3% in the first quarter, which would mean a technical recession after the 0.3% fall in the fourth quarter of 2019.
A recession is normally defined as two consecutive quarters of economic contraction.
(Reporting by Sabina Suzzi, editing by James Mackenzie)
