Arab Today, arab today italy recession rumbles on with 07 drop in gdp
Last Updated : GMT 17:07:27
Arab Today, arab today
Arab Today, arab today

Italy, recession rumbles on with 0.7% drop in GDP

Arab Today, arab today

Arab Today, arab today Italy, recession rumbles on with 0.7% drop in GDP

Rome - ANSA

Italy\'s recession rumbled on in the second quarter of this year when its gross domestic product (GDP) dropped 0.7% with respect to the first three months of the year, Istat said on Tuesday. The announcement by the national statistics agency showed that the downturn is now a year old as it was the fourth consecutive quarter of negative GDP. Istat added that, according to its preliminary estimates, Italy\'s GDP was 2.5% lower in the second quarter of this year than it was in the same period of 2011. That is the biggest fall since the third quarter of 2009, when GDP slid 3.5% compared to the period between July and September 2008. Istat also said that GDP fell by 1.6% in the first half of 2012 compared to the same period last year. The data suggests Premier Mario Monti will find it hard to put Italy on course to balance the budget by 2014, as the recession is hitting consumer spending and tax revenues. \"2012 and 2013 will be difficult years in which countries will have to launch structural economic reforms in order to be ready for the recovery,\" said Italian Education Minister Francesco Profumo. \"At this difficult time, Premier Mario Monti is playing a key role in giving our country and Europe credibility\". Istat also presented negative data for industrial output, which fell 1.4% in June compared to May. Industrial production was a whopping 8.2% lower in June than it was in the same month in 2011 in the 10th consecutive year-on-year fall. The car industry is being hit particularly badly. Istat said auto output was 22.5% down in June compared to the same month in 2011. The national statistics agency said the sector\'s production levels for the first half of 2011 were 20.1% lower than in the same period last year. Italian auto giant Fiat\'s car sales in Europe dropped 16.7% in June taking its share of the European market to 6.4%, compared to 7.5% in June 2011. Fiat CEO Sergio Marchionne said last month that the carmaker may have to close one of its plants in Italy if weak demand on the European auto market continues.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today italy recession rumbles on with 07 drop in gdp Arab Today, arab today italy recession rumbles on with 07 drop in gdp

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum

GMT 10:20 2017 Thursday ,16 February

New Zealand's Spark rings up interim profit rise
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 15:16 2017 Sunday ,19 February

Apple to start India operations with iPhone SE

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday