Domenica, 21 Ottobre 2018

Italian recovery won't start till 2014, says Confindustria


Rome, December 11 - Italian industrialists'
association Confindustria on Tuesday said that it did not expect
Italy to pull out of recession next year as it revised downwards
its gross domestic product (GDP) forecasts.
Next year GDP is expected to contract by 1.1% against an
initial predicted decline of 0.6%, Confindustria said, citing
the ongoing economic crisis and uncertainty over the outcome of
general elections, now likely to take place in February.
Economic recovery is now only expected to begin in 2014,
with a forecast GDP growth of 0.6%, Confindustria said.
However the industrialists' association revised upwards its
GDP forecast for 2012, from an initial predicted decline of 2.4%
to a drop of 2.1%.

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