ANSA: Italy's GDP to fall 8.3% this year, rebound 4.6% next says ISTAT

«The spread of the COVID-19 epidemic and the consequent containment measures decided by the government,» the stats agency said, «have determined an unprecedented shock», ANSA reports.

ISTAT also said there would be an 8.7% drop in household consumer spending this year and a 12.5% fall in investments.

On the jobs front, it said unemployment would fall to 9.6% as a consequence of a rise in inactive people.

ISTAT said around 500,000 people have stopped looking for work.