Surviving the Recession

Analysts say that the recession will continue to lead after a stage of economic depression. In a statement, the Istat confirmed the estimate of economic developments announced last November 14 for the third quarter 2008: down 0.9% on-year and 0.5% of GDP compared to the second quarter of 2008. Of Thus, Italy accumulates two consecutive quarters of GDP decline in the year, as in the second fell 0.4% over the same period in 2007, to meet government requirements that define the downturn in the economy. This situation is not lived for fifteen years, when there were six consecutive quarters of declines between 1992 and 1993. The fall in GDP between the third and second quarters of 2008 is the worst record in the Italian economy since 1998. This situation is not lived for fifteen years, when there were six quarters is added, the Italian Statistical Institute, often accused of spin doctors of data by consumer associations, also gave a very negative data.

Industrial production dropped sharply by 6.7% in October over the same month in 2007. But the central business Postindustrial warned that the collapse came in November to 11.2% in the period of 12 months. The automotive sector slowed precipitously by 34.3% compared with October of a years ago. Falling inflation and oil prices have supported consumption in which some are already calling “Last Christmas” because the more pessimistic forecasts show that since January 1 hard economic winter will be colder winter climate in Europe begins 21 December. The steady increase in unemployment, which could exceed 8% in 2009, have a negative impact on consumption.