Italians Cut Back on Expenses Most in the EU as Virus Hit

(Bloomberg) -- Coronavirus lockdowns across Europe have meant households reduced spending, and Eurostat data are providing a first glimpse of the extent of the cutbacks. Figures for the three months through March show an average decline of 1.7% across the European Union. Italy, which was among the first to shutter shops and ask people to stay home, saw a 6.4% decline, the biggest in the EU.

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