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Consumption propelled Italian economic growth in Q2 and Q3 but it will drag GDP down in Q4 and Q1.
We now look for a worse, albeit still shallow, recession in Italy over the coming quarters.
Swiss November inflation data support our call for just one more rate rise in the SNB’s hiking cycle.
economic growth, gdp, growth, inflation, italy, November, q2, q3, q4, recession, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence