Arab Today, arab today italy recession rumbles on with 07 drop in gdp
Last Updated : GMT 18:43:11
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.

arabstoday
arabstoday

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

 



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 Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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