Italy GDP to fall 8% in first quarter as coronavirus crackdown bites - thinktank
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ROME (Reuters) - Italy's economy will contract by 3% in the first quarter of this year from the previous three months and shrink a further 5% in the second quarter, a think-tank forecast on Friday, as the lockdown to fight coronavirus hits activity.The Milan-based think-tank REF slashed a previous forecast, made on Feb. 29, which had envisaged a fall in gross domestic product of 1% in the first quarter and 3% in the second.Since then, a series of government decrees have ramped up measures to try..