The Italian data speak for themselves according to the OECD. After the GDP fell by 2011% in the third quarter of 2,6, the prediction of the Parisian institute speaks of a minus of 1,6% for the first three months of 2012 and a minus of 0,1% for the second quarter.
This is the OECD's Economic Outlook on Italy that seems to leave no way out, the first six months of 2012 will rhyme with recession, as the Minister of Economic Development underlined today Corrado Passera. According to the international organization, the causes can be seen in the weakness of industrial production and the low confidence of families. These data, although recovering slowly, are the weakest of the countries belonging to the G7, on which the OECD analysis has focused.
In general, the recovery of the G7 countries should consolidate around the month of September, but a strong contraction is expected for the first three months, in a context that the OECD defines as "fragile".
A completely different forecast for the United States which should grow at rates of around 3% on an annual basis.
