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On Friday, Italy, the world’s 7th largest economy (3rd largest in the EU), printed GDP numbers for the second quarter that were down -0.28% from Q1; today’s CPI numbers came in holding on at the 6 year high of 4% reported last month.

For context, here's a longer term chart overlaying these two economic factors. There are no medals being handed out here to the Italians.

Andrew Barber
Director