Euro

Italy's Economy Contracts More Then Previously Estimated

Economy shrunk 2.6 percent compared with a year earlier

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The Italian economy shrank by 0.8% between April and June, slightly more than previously estimated, official figures have shown.

A bigger drop in investment and consumer spending accounted for the downward revision from the 0.7% contraction estimated last month.

Meanwhile, the French central bank has said it expects the country's economy to contract in the third quarter.

This is despite figures showing a surprise rise in industrial production.