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

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

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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