Italy GDP unexpectedly shrinks in blow to Meloni

ROME -Italy's economy performed surprisingly poorly in the second quarter, data showed on Monday, offering an uncomfortable outlook for Prime Minister Giorgia Meloni as her government tries to tackle the negative impact of high inflation. Gross domestic product (GDP) contracted by 0.3 percent on a quarterly basis between April and June and was up 0.6 percent year-on-year, national statistics bureau ISTAT said. A Reuters analyst survey had pointed to a flat reading quarter-on-quarter and a 0.9- percent yearly rise. The gloomy data makes it harder for the government to reach its stated goal of 1 percent growth rate this year, although the Treasury said the target "is still fully ...Keep on reading: Italy GDP unexpectedly shrinks in blow to Meloni

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