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Austerity building anger and gloom 
Italian and UK industrial output fall 
After austerity, Italy’s Monti looks to growth 
US GDP figures knock markets back 
Euro crisis: Italy on the brink 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.
More about: Economic growth, Gross domestic product, ItalyCopyright © 2012 euronews
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