Italy falls back into recession

Written By Unknown on Rabu, 06 Agustus 2014 | 16.50

6 August 2014 Last updated at 10:44

Italy's economy has fallen back into recession, latest official figures show, after contracting for two quarters in a row.

GDP, the value of all the country's goods and services, shrank 0.2% in the second quarter of the year.

The surprisingly weak number follows a 0.1% contraction in the first quarter.

At the end of last year the country appeared to be emerging from recession, growing fractionally in the last three months.

Separate figures showed industrial output increased by 0.9% from May to June, the biggest increase in five months.

The unexpected contraction in GDP is a blow to Prime Minister Matteo Renzi, who came to power in February promising to reform and revive the economy.


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