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Italy business lobby sees 10% GDP contraction this year, 'partial' rebound in 2021

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Italy's business lobby Confindustria said on Saturday it saw just a 'partial' rebound for the country's gross domestic product (GDP) in 2021 after an expected 10% contraction this year, as the coronavirus epidemic still loomed.

Reuters StaffA man rides a bicycle as Milan reallocates road space previously used by cars to new bicycle lanes and pedestrian pathways, as part of an effort to reduce pollution ahead of lockdown gradually lifting due to a spread of the coronavirus disease , in Milan, Italy April 30, 2020. REUTERS/Daniele Mascolo/Files

Confindustria’s research unit CSC said a recent spike in new COVID-19 cases was a source of uncertainty and a cause for expected economic weakness in the last quarter of this year.

 

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