Italy's GDP shed 0.8% in first quarter

LONDON (MarketWatch)
The Italian economy lost 0.8% in the first quarter, compared to the prior quarter, the nation's national statistics body, Istat, said on Tuesday
The dip in gross domestic product was larger than expected, with the average forecast calling for a contraction of 0.6%, according to a Dow Jones Newswires poll
Italy's economy has shrunk for three consecutive quarters
On an annual basis, Italy's GDP contracted by 1.3% against the year-ago period