Italy swings back into recession
Italy has fallen back into recession in the third quarter of 2014, the latest data released by the national statistics office Istat has revealed.
The country’s GDP decreased by 0.1% in the first nine months of the year, marking the 13th month of recession in a row.
Italy’s GDP dropped by 0.4% compared with the third quarter of 2013, Istat data also highlighted.
The economy’s contraction started in the third quarter of 2011 and did not stop until the third quarter of 2013, when GDP stagnated.
Italy’s economy shrunk again in Q4 2013 by 0.1%, was flat in Q1 2014 and has again decreased in Q2 and Q3, by 0.2% and 0.1% respectively.