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In the fourth quarter of 2020 the seasonally and calendar adjusted, chained volume measure of Gross
Domestic Product (GDP) decreased by 2 per cent with respect to the previous quarter and by 6.6 per cent
over the same quarter of previous year.
Some parts of the Euro area have managed to escape much of an end of year downturn but sadly not Italy. Also the detail is of a widespread decline.
The quarter on quarter change is the result of a decrease of value added in all main economic sectors, i.e.
agriculture, forestry and fishing, industry and services. From the demand side, there is a negative