ROME (Reuters) – Advertising spending fell by 10.7% year-on-year in Italy in July, research agency Nielsen said on Thursday. The sharp fall was largely a reflection of a spike in advertising spending in July 2021 due to the Euro 2020 football tournament won by Italy, Nielsen added. Advertising spending was down by 1.3% in the first seven months of 2022, while TV advertising shrank by 21.4% in July and by 8.9% in the January-July period. (Reporting by Alvise Armellini; editing by Agnieszka Flak)