Coronavirus-battered Italy faces worst recession since Second World War – Gulf Today

  • Date: 30-May-2020
  • Source: Gulf Today
  • Sector:Economy
  • Country:Middle East
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Coronavirus-battered Italy faces worst recession since Second World War – Gulf Today

Empty tables are pictured outside a restaurant at Palazzo Vecchio as Italy battles a coronavirus, in Florence, Italy.. The country is set for a drop in GDP of between nine and 13 percent, the Bank of Italy said on Friday.. People visit Piazza of Duomo, virtually deserted as Italy battles a coronavirus outbreak, in Florence, Italy.. Consumer confidence went from 100.1 points in May to 94.3 in March, its lowest level since December 2013.. According to a Confcommercio-Censis poll published on Tuesday, 53 percent of Italian families see their future negatively and 68 percent see the country's future negatively.. Because of lockdown, 42 percent of families have had to reduce their work and income, 26 percent have stopped work and 24 percent have been furloughed..