| 제목 | Italy: Staff Report for the 2012 Article IV Consultation [원문보기] | ||
|---|---|---|---|
| 발간처 | IMF | 발간일 | 2012/07/11 |
| The economy has been in recession since the middle of 2011. GDP contracted for a third straight quarter, by 0.8 percent (q/q, s.a.) in Q1 2012. The contraction was led by sharp falls in consumption and investment as concerns about the fiscal outlook and the euro area crisis depressed confidence and tightened credit conditions (Figure 1). Exports also fell, along with the slowdown in global demand, but net exports contributed positively to growth due to the sharp import compression. Household real disposable income continued to decline in 2011, while consumer sentiment fell below levels in 2008–09. The unemployment rate rose to 10.2 percent in April 2012, its highest level in more than ten years, with youth unemployment at 35 percent. | |||
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