The Italian economy is struggling to recover. According to the latest data published today by Istat, Italian GDP decreased by 2,5% in the second quarter compared to the same period last year, marking the worst drop since the end of 2009. The data marks a sharp deterioration compared to the -1,4% of January-March. This is the third consecutive quarter with the negative sign and yes confirmation in this way the status of recession of the economy.
In comparison with the first quarter, in the months from April to June the decline was 0,7%, albeit slightly better than the -0,8% in the first three months of the year. For the fourth consecutive quarter there is therefore a negative trend at the economic level.
In first half GDP decreased by 1,6% compared to the same period of the 2011.
The slowdown in GDP also worsens the GDP "acquired" for all of 2012. The growth acquired for this year, i.e. the growth that would occur if the economy grew at zero in the last two quarters, is equal to -1,9%, significantly worse than the -1,4% recorded at the end of the first quarter.
Although negative, the data is in line with analysts' expectations. Piazza Affari slowed down but remained positive with +0,46%. The spread is at 461 basis points, stable compared to the opening value.
