BREAKING NEWS
This content is not available in your region

Italian economy contracts

Comments
Italian economy contracts
Text size Aa Aa

Italy has slumped into a recession expected to last at least a year with the economy contracting 0.7 percent over the past three months.

It is the second consecutive quarterly fall in GDP which technically makes it a recession.

The latest figures are an indication of the problems facing prime minister Mario Monti’s technocrat government as it battles with a shrinking economy compounded by austerity measures and a debt crisis.