Italy could enter recession in Q4 – Report
Connect with us

Foreign

Italy could enter recession in Q4 – Report

Published

on

download 5 - Italy could enter recession in Q4 – Report

The Italian economy could enter into recession during the fourth quarter of this year, the chief economist of industrialist lobby Confindustria, Andrea Montanino, told Reuters.

 

Italy’s economy contracted in the third quarter for the first time in four years due to falling domestic demand, statistics bureau Istat said on Friday.

 

The data cuts a preliminary estimate of stagnant gross domestic product.

 

“It’s a worrying figure that could lead us to technical recession in the last quarter of the year. We are forecasting a flat Q4 with downside risks due to falling confidence indices,” Montanino said.

 

An economy is said to be in recession when you get two consecutive quarters of negative growth.

 

Morale among Italian manufacturers fell in November from the previous month to its lowest level in almost two years as expectations for future production declined.

 

Consumer confidence fell in November to its lowest level since May.

Contact Us

Email: Politicsngr[at]gmail.com

rant 300x250 - Italy could enter recession in Q4 – Report

Latest Rates

Currency Interbank Rate Parallel Rate
USD ₦307 ₦365
GBP ₦387 ₦466
EUR ₦350 ₦411

Updated on December 12, 2018 at 9:00 am