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Italy slows euro growth
GLOOMY European consumers and weak Italian industry are dragging the Eurozone even further from recovery, new data showed yesterday.
The European Commission’s consumer confidence index continued its decline into September, falling to minus eight from this year’s high of minus 4.1 in May.
Italy’s industrial orders index showed a fall of 1.5 per cent in July from June and 1.3 per cent on the same month last year. The poor set of data raises fears of a sustained recession – the economy contracted 0.1 per cent in the first three months and 0.2 per cent in the second three months of 2014.