Financial market turmoil has given Italy’s iShares MSCI Italy Index (EWI) exchange traded fund (ETF) a rough time this year. In fact, Italy’s economy has been so turbulent, the government is considering lowering its economic growth forecast for next year, according to Guy Dinmore and Ralph Atkins for the Financial Times. The governor of the Bank of Italy says that even before taking into account current market conditions, growth could be 0.2 percentage points lower than the 2% and 1.9% prediction for this year and 2008. Despite the bad economic forecast, EWI currently is up 3.6% year-to-date.
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