Bank of Italy cuts Italy 2019 GDP growth forecast to 0.6% from 1.0% in December

According to Reuters, the Bank of Italy has cut its 2019 GDP growth expectation to 0.6% from 1% in December's report. 

Key takeaways

• Economy probably contracted in Q4 2018 for second straight quarter.
• Gross NPL ratio for Italian banks under ECB supervision fell to 9.4% in Q3 2018 from 9.7% in Q2.