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Italy recession

Moreover, the employment to working age population ratio and labor force participation rate in Italy appears to have followed a trend parallel to that of … The government forecasts that GDP will contract 8% in 2020, a projection that looks optimistic next to the 10% predicted by economists, and the European Commission’s 11%.There’s also been a huge fallout on Italy’s public finances after the government ramped up health and stimulus spending to counter the pandemic. ROME: Italy posted a record economic contraction Monday as household spending and investment crashed during the country’s coronavirus lockdown, driving the eurozone’s third-largest economy deep into recession.The country’s gross domestic product fell by 12.8% in the second quarter compared to the previous quarter and by 17.7% versus the same period last year, national statistics agency Istat said.“The full estimate of the quarterly economic figures confirm the exceptional extent of the drop in GDP in the second quarter, due to the economic effects of the health emergency and the containment measures adopted,” Istat said.The contraction was even worse than predicted in July, when Istat estimated a second-quarter drop of 12.4%.A recession is commonly defined as two consecutive periods of a quarter-on-quarter drop in GDP.In the second quarter, household spending fell by 11.3% compared to the first quarter, while exports plummeted 26.4%, the agency said.Italy, the first European country to be hit full force by the coronavirus outbreak, went into total lockdown in early March as Covid-19 tightened its grip on the country.The peninsula is set to suffer its worst recession since World War II this year, with experts estimating GDP to plummet between 8% to 14%.The eurozone economy is predicted to contract by a record 8.7% this year, with mass unemployment and other dire consequences still very much a possibility.Having utilised Yezza to grow its market, Mount Kinabalu Coffee now provides 15 families in Sabah with a sustainable source of income.If a student is serious about pursuing a degree in dentistry, PIDC is easily their top choice.Harith Zazman and Eswar Mohan are putting Malaysia on the map with their digital content.MDEC’s #MyDigitalWorkforce initiative sees over 3,800 online courses being offered for free until the end of the year.The MCO forced restaurants to go digital, now they're doing better than ever. Italy Plunged Into Recession by Investment, Consumer SlumpHow much the most populous states pay mail carriersAmericans rely on mail carriers to send and receive their mail. Have you ever wondered how much these essential workers make?Creepy ways your company can spy on you while you work from homeJust because you’re working from home doesn’t mean your boss can’t keep tabs on your every move. Italy is now in a triple-dip recession. Debt was already projected to exceed 150% of GDP this year even before the latest tranche of spending. A recession is commonly defined as two consecutive periods of a quarter-on-quarter drop in GDP. Those recessions will be more than twice as deep as those experienced 10 years ago. Agence France-Presse Posted at Aug 31 08:25 PM. Italy posted a record economic contraction Monday as household spending and investment crashed during the country's coronavirus lockdown, driving the eurozone's third-largest economy deep into recession. (Bloomberg) -- Italian companies slashed investment and consumers cut back on spending during the coronavirus lockdown in the second quarter, sending the economy into a record contraction.Figures from statistics office Istat showed household spending fell 11.3% in the period, and exports dropped 26.4%. Investment plunged 14.9%, with transport investment down about 20%. “Industrial orders and expectations, while inferior to normal, have risen further in the two months.”A strict national lockdown in Italy, the original European epicenter of the virus, took a heavy toll on the economy. The government has so far approved about 100 billion euros ($119 billion) in stimulus to try to save the economy.Some of that money will come from Europe, with Italy expected to receive the biggest share of a 750 billion-euro recovery fund approved by European Union. Worse yet, the IMF is anticipating that the economies of Italy and Spain—the two European countries with the highest public debt levels and the shakiest banking systems—will both experience economic declines of around 12.5 percent in 2020. Italy also entered into a recession in the first quarter with GDP decreasing by 4.7 per cent compared to the previous quarter, the ISTAT statistics agency announced on Thursday. Italy plunges into recession as virus bites. But it didn’t get there by itself. Italy's economy tipped into recession at the end of last year, according to latest figures. But not thisJim Cramer on Chesapeake Energy filing for bankruptcyFord just unveiled its 2021 tech-savvy pickup — here's what's newAmazon looking to get into the self-driving car business buys startup for $1BEconomic outlook as more Americans file for unemploymentDisney World workers petition to delay reopening of theme park500 Delta staff have tested positive for COVID-19 and 10 have diedMask Mums Are The New Fashion As Students Get Ready For Homecoming DancesWingstop CEO sticks by plans for new stores, hires as industry strugglesFed says it will seek to achieve 2% inflation over time—Here's what that means Italy’s economy shrunk 5.4% in the first quarter.

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