Post by EconomyRaft on Sept 10, 2013 15:00:36 GMT
I've been reading this article on the marketwatch site,
Italy's economy contracts more than estimated
Apparently, Italy's Economy is still in recession despite a slight increase in the exports and consumption in Italy.
In 2008 and 2009, Italy's GDP shrank -1.3 % and -5.2 %, had a shy rebound in 2010 and 2011, where Italy's GDP grew 1.7 % and 0.4% respectively.
Italy returned into recession in 2012 and is expected to have a total GDP contraction of 1.3 % in 2013.
Italy's economy contracts more than estimated
Apparently, Italy's Economy is still in recession despite a slight increase in the exports and consumption in Italy.
Italy's economy contracted more than previously estimated in the second quarter of 2013, shrinking 0.3% from the first three months of the year in seasonally-adjusted terms, national statistics institute Istat said Tuesday.
Economists had expected the preliminary estimate of a 0.2% quarterly contraction to be confirmed. On an annual basis, Italy's second-quarter gross domestic product shrank 2.1%, compared with the 2.0% contraction previously estimated, Istat said.
Economists had expected the preliminary estimate of a 0.2% quarterly contraction to be confirmed. On an annual basis, Italy's second-quarter gross domestic product shrank 2.1%, compared with the 2.0% contraction previously estimated, Istat said.
In 2008 and 2009, Italy's GDP shrank -1.3 % and -5.2 %, had a shy rebound in 2010 and 2011, where Italy's GDP grew 1.7 % and 0.4% respectively.
Italy returned into recession in 2012 and is expected to have a total GDP contraction of 1.3 % in 2013.