Il Study Center of Confindustria in the "Congiuntura Flash" highlighted how the recession worsened in the first quarter of 2012. The drop in GDP in the fourth quarter of 2011 starts the year with a ballast of -0,6%. The news adds up to negative data released by the European Commission in the morning.
According to the CSC, bad weather will also contribute to exacerbate the already marked contraction of GDP. Falling employment and low confidence have squeezed consumption. The labor market remains the mirror of the unhappy moment of the Italian economy. The drop in layoffs was not determined by a reinstatement in jobs and unemployment reached 8,9%. The negative trend is thus confirmed also in the first quarter of 2012.
