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.