BREAKING NEWS

BREAKING NEWS

Gloomy figures on Italian growth

Now Reading:

Gloomy figures on Italian growth

Text size Aa Aa

Italy’s economy contracted in the third quarter, sparking fears that the country might have gone into its fifth recession since 2001.

GDP fell 0.2 per cent from the second quarter, when there was slight growth. Consumer spending also fell 0.2 per cent and investment dropped by 0.6 per cent.

There are fears the government’s new austerity measures will also put the brakes on growth.