Sabato, 22 Settembre 2018
ROME

Italy's recession stretches to seventh quarter

English
© ANSA

(updates previous)
Rome, May 15 - Recession-hit Italy's gross domestic
product (GDP) fell 0.5% in the first three months of 2013, Istat
said Wednesday.
The national statistics agency said it was the seventh
consecutive quarter that Italy has posted negative growth,
making this Italy's longest recession since Istat started using
its current GDP calculations system in the first quarter of
1990.
Consumer associations Federconsumatori and Adusbef said in
a joint statement that they were "extremely worried" about the
data, saying they forecast Italy's GDP would drop 2% this year.
"The only road to take to reverse the trend is to work to
revive domestic demand," said the associations, calling on
Premier Enrico Letta's government to avert a 1% rise in the top
band of value added tax scheduled to come into force in July.

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