The Italian economy is increasingly in recession. This is once again certified by Istat, which found that in the first three months of 2012 gross domestic product, adjusted for calendar effects and seasonally adjusted, was down 0,8% from the previous quarter and by 1,3% compared to the first quarter of 2011. The country's recession has therefore been confirmed, given that the Italian GDP is negative for the third consecutive quarter.
According to Istat estimates, between January and March 2012 the Italian economy scored the steepest contraction since the first quarter of 2009. And the tendential decline (-1,3%) is also the lowest since the first quarter of 2009 (-3,5%). No less negative are the forecasts for 2012: the GDP acquired for the current year is equal to -1,3, while the average of estimates collected by Reuters among analysts indicated a decline of 0,6% in cyclical terms and by 1,1% on an annual basis.
“The cyclical result – commented the National Institute of Statistics on the sidelines of the publication of the data – is the synthesis of an increase in the added value of agriculture and a decrease in the added value of industry and services".
