Fitch estimates Italy's GDP at -8% in 2020

(ANSA) - NEW YORK, APRIL 22 - The world is grappling with an unprecedented need with the expected GDP drop of 3.9% in 2020. Fitch says, predicting a contraction of the Euroland pildi of 7% this year, while the United States will experience 5.6% and Great Britain 6.3%. "The biggest downward revision" of the estimates for 2020 concerns Euroland "where measures to stop the spread of coronavirus have already had" a weight in the activity of the first quarter of 2020. The rating agency has "cut the estimate on Italy's GDP to -8% after indications that Pilè has already fallen by 5% in the first quarter and after the recent extension of the lockdown ". Official estimates also point to almost 5% contractions of France and Spain in the first quarter.