Martedì, 18 Settembre 2018
ROME

Weakness in northern industrial base shows Italy in trouble

English
© ANSA

Rome, May 23 - Weakness in Italy's northern
industrial base is a strong indicator of how poorly the national
economy is faring, the head of Confindustria, Italy's powerful
industrial confederation, said Thursday.
"The north is on the brink of an abyss....that would drag
our country back a half-century," Giorgio Squinzi said during
the annual meeting of his organization.
That weakness developing in what has traditionally been the
country's economic and industrial base is a clear sign that the
government of Premier Enrico Letta must develop strong policies
to boost growth, said Squinzi.
Italy is now stuck in its longest recession on record with
seven straight quarterly drops in gross domestic product (GDP)
amid rising costs and unemployment.
Last week, national statistics agency Istat reported that
GDP fell 0.5% in the first three months of 2013.

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