Italy's Recession Longest on Record

Has lasted eight quarters

Italy just released second quarter GDP figures, which showed that the country continued to contract last quarter.

GDP fell 0.2% in the second quarter after contracting 0.6% in Q1, beating consensus estimates for a 0.4% decline.

Year over year, GDP fell 2.0%, better than expectations for a 2.2% decline.

However, at eight quarters running, Italy's recession is now the longest on record.