ROME, Sept 1 - Italy's GDP shrank by 0.4% in the second quarter from the first and its manufacturing sector contracted in August for a fifth consecutive month, according to data on Friday that cast a shadow over the country's economic prospects.
Rome is officially forecasting full-year 2023 growth of 1.0%, slowing sharply from the buoyant 3.7% rate in 2022. The government is also preparing a 2024 budget that is expected to confirm Italy's commitment to keeping its deficit on a downward trend, leaving little leeway for stimulus.Italian ministers have repeatedly criticised the European Central Bank for sharply raising interest rates, saying its policy threatens to throw the euro zone into recession.
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