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Thursday, November 14, 2013

Italy logs ninth consecutive quarterly contraction.

Italy’s economy shrank by 0.1% in Q3, matching economists’ expectations. The quarterly contraction which the national statistics office describes as "very mild" — is the ninth-straight for the eurozone's third-largest economy. Strength reportedly came from the industrial sector, while services and farming were weak in inflation-adjusted terms. The full-year contraction now sits at 1.9%, meaning the country will have to see economic growth in Q4 if the government's forecast of a 1.8% contraction for the year is to prove accurate.

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