Italy is in technical recession, as GDP has been declining for the second consecutive quarter.
And 'This, in short, the news of the day, from Italy.
The data of 2011 and were published this morning, here are some: The GDP grew by 0.5%: it detects the ISTAT Italian National Statistical Institute, spreading the data corrected for calendar effects, and revising upward the preliminary estimate, which lent its GDP to +0.4%. Compared to 2010, growth is braking rapidly (+1.8%).
The gross domestic product, fell by 0.7%, compared to the previous quarter, and 0.4% on an annual basis.
Unfortunately, the economic data of 2011 confirm the severe economic crisis of our country.
No, Italy is not in Default, and even likely - for now - to be, the new government Mountains is doing very well for the economy of Italy, but the results will only be seen from many months or years, Meanwhile, the discontent among the population is increasing, as there are new jobs, the cost of living is slowly but steadily increasing, a liter of petrol costs 2 euros, and a salary of an employee is of approximately 900 euros.
We will keep you updated on the true life of the Italian people.