Italian economy shrank marginally in the fourth quarter of 2022 after expanding in the previous seven quarters, led by weaker domestic demand and lackluster industrial and farm sector performance, preliminary data from the statistical office Istat showed on Tuesday, triggering fears of a mild recession.
Gross domestic product shrank 0.1 percent sequentially in the December quarter, reversing a 0.5 percent rise in the September quarter. Economists had forecast a 0.2 percent fall for the final quarter of 2022.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.