ITALY DATA: Preliminary 4Q10 GDP -0.7% Q/Q, -0.5%….

ITALY DATA: Preliminary 4Q10 GDP -0.7% Q/Q, -0.5% Y/Y, contracting
for the second consecutive quarter and plunging Italy into recession as
a result of negative contribution to growth from industry, substantially
stable services and positive agriculture sectors, ISTAT said. –3Q GDP
was revised at -0.2% Q/Q and +0.3% y/y (Vs -0.2%, +0.2%). –Full-year
2011 work-day adjusted GDP gained +0.4% y/y, down from 1.4% in 2010.
–The 4Q result gives a platform of ‘acquired’ growth of -0.6% for 2012
–ISTAT provided no numerical details of 4Q GDP components. –See
headlines on main wire