Italian industry feels brunt of recession
The Italian economy suffered a further setback on Monday after it was revealed that industrial output fell 0.9 percent between August and September, down 2.9 percent on a year ago.
Istat, the national statistics agency, said on Monday that the decline affected all industrial sectors.
Analysts had forecast a 0.2 percent fall from August and a 0.7 percent fall from September last year.
The drop will further stall recovery in the eurozone’s third-largest economy, piling more pressure on Italy’s Prime Minister Matteo Renzi to quickly implement measures to revive growth.
A European Commission report last week forecast that the Italian economy would grow at 0.6 percent next year, spurring a “fragile recovery”.
Italy's jobless rate also rose to 12.6 percent in September, from 12.5 percent in August.
Comments
See Also
Istat, the national statistics agency, said on Monday that the decline affected all industrial sectors.
Analysts had forecast a 0.2 percent fall from August and a 0.7 percent fall from September last year.
The drop will further stall recovery in the eurozone’s third-largest economy, piling more pressure on Italy’s Prime Minister Matteo Renzi to quickly implement measures to revive growth.
A European Commission report last week forecast that the Italian economy would grow at 0.6 percent next year, spurring a “fragile recovery”.
Italy's jobless rate also rose to 12.6 percent in September, from 12.5 percent in August.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.