Latest data released by Istat - 30 October 2020

  • Prior -12.8%; revised to -13.0%
  • GDP -4.7% vs -8.4% y/y expected
  • Prior -17.7%; revised to -17.9%

The Italian economy rebounded much more strongly than estimated in Q3, but that reflects similar sentiment across the region in all the releases today. But the market is more focused on Q4 developments now, so the positive beats don't really matter at this stage.