States Chronicle - Latest Breaking World News

Friday, January 15, 2021
Log in
  • About Us
  • Contact Us
  • Authors
  • Investor Relations
  • Privacy
  • Terms of Use
  • Latest News
    • Right Colors for your Skin Tone
    • MOST ACTIVE NASDAQ After-Hours
    • iPhone 5C Release Date
    • Samsung Galaxy S5 Release Date
    • The History of the Atkins Diet

Italy Enters Another Recession Period

August 6, 2014 By Sebastian Mc’Mannen Leave a Comment

The economic crisis is not over for Italy. The country faces a second quarter with a decreasing GDP figure. In the first quarter of 2014, Italy’s economy shrank by 0.2 percent. The numbers forming the second quarter figures indicate a trend, with another contraction of 0.1 percent. Successive quarters indicating negative growth are interpreted as a period of economic recession by economists. Italy enters another recession, but taken monthly, the numbers would not necessarily be so disastrous. From May to June, the economy grew by 0.9 percent.

Greece is finally seeing better economic figures. Moody’s just upgraded the country’s ratings by two notches, up to Caa1.

The end of 2013 signaled sustained economic growth for Italy, so the news of recession comes as a surprise. Hetal Mehta, European economist with Legal & General Investment Management, told the BBC: “Italy has a huge pile of government debt and they need growth to bring that debt stock down, so having such weak growth figures is a major setback.” Since 2007, Italy’s economy shrank by 9 percent, according to the Bank of Italy.

Italy did not undertake too many measures against the economic recession. Other countries, such as Spain, combined austerity measures with labor market reforms.

Italy enters another recession in the midst of international turmoil caused by Russia and Israel

The Italian administration predicted a 0.8 percent economic growth for 2014 and 2.6 percent GDP deficit. If things worsen up, Italy might have to appeal external aid and to form another budget. Nevertheless, this is Italy’s third recession in the last six years.

Italy Enters Another Recession as its economy contracts for a second quarter

Matteo Renzi, the 39 years old Italian Prime Minister will be affected by the latest economic figures. He took the power in February and promised to initiate reforms in the labor market, privatization and support tax cuts. The neoliberal mindset does not seem to provide satisfactory results so far.

Other three countries from the Euro zone faced economic recession in 2014. Finland, Cyprus, and Greece have reported two successive quarters of economic shrinking.

Italy’s unsatisfactory economic results might have been influenced by external factors too. Russia and the Middle East are some of Italy’s biggest markets for fashion and luxury goods. But right now there is turmoil in both areas. Allegedly Russia gathers military resources at the border with Ukraine and the stock prices fell vigorously as a consequence. Italy enters another recession as its economy is sensitive to these recent changes.

Filed Under: Markets Tagged With: debt, economic recession, Italy

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 30 other subscribers

Doom and MiniDoom 2

Volunteer-Based Mexican Studio Releases Sidescrolling Doom Clone

March 12, 2018 By Georgia Dawson Leave a Comment

Chinese Mom and locked iPhone.

Toddler Locks Chinese Mom Out of Phone for Half a Century

March 9, 2018 By James Faulkner Leave a Comment

Alexa laughing

Amazon Alexa Laughing out of the Blue Puzzles Engineers

March 8, 2018 By Jack M. Robinson Leave a Comment

Flippy and the Burgers

Meet Flippy, World’s First Fast-Food Robotic Chef

March 6, 2018 By Georgia Dawson Leave a Comment

System Shock

System Shock Remastered Delayed, Nightdive Studios CEO Announces

February 19, 2018 By Janet Vasquez Leave a Comment

Sea of Thieves.

Sea of Thieves Optimized for Low-End PCs

February 14, 2018 By Georgia Dawson Leave a Comment

Sony and VR

Sony Touts New Generation of VR Controllers

January 31, 2018 By Deborah Cobing Leave a Comment

YouTube

YouTube Stiffens Its Monetization Policy to Discourage Spammers and Bad Actors

January 18, 2018 By Georgia Dawson Leave a Comment

Google Art Doppelganger

Google App Can Now Show Your Art Doppelganger

January 15, 2018 By Troy Rubenson Leave a Comment

YouTube mobile app logo on a smartphone

YouTube Now Enables Vertical Videos on iOS

December 24, 2017 By Janet Vasquez Leave a Comment

Samsung Galaxy S2 with a shattered screen

Cracked Smartphone Screens Are a Thing of the Past – Self-Healing Polymer Gets Fixed Just by Pressing It

December 20, 2017 By Janet Vasquez Leave a Comment

Bing logo on a white background

Bing Improves Its Search Results with the Help of AI and Reddit Integration

December 16, 2017 By Janet Vasquez Leave a Comment

White hashtag on a blue background

Follow Your Interests on Instagram by Directly Following Hashtags

December 14, 2017 By Janet Vasquez Leave a Comment

Samsung Galaxy S7 Edge on a leather seat

Samsung Galaxy Smartphones Make More People Happier as Compared to iPhones

December 13, 2017 By Janet Vasquez Leave a Comment

Categories

  • Business
  • Entertainment
  • Health
  • Lifestyle
  • Markets
  • National News
  • Nature
  • News
  • Politics
  • Science
  • Technology
  • Uncategorized
  • World

Copyright © 2021 statechronicle.com

About · Privacy Policy · Terms of Use · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.