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Italy economy continues to sink deeper in recession

Economic recession caused widespread as more people unemployed Italy.

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The Statistical Office of the Italy ( ISTAT ) announced last October showed II/2013 quarter , the number of working-age people without jobs in this country has risen to 2.9 million , accounting for 11 , 4% of the labor force .

This figure is higher than the same period last year 200,000 people and more than three times the unemployment rate of the EU average .

According to ISTAT , Southern Italy continues to be the region most affected by the recession . 75 % of people without a job in Italy lives in this region .

While the economic policy of the Government Prime Minister Enrico Letta to stabilize production and markets , create jobs and find new sources of revenue without raising taxes also faces opposition from opposition parties and a section of the union , the index of business confidence dwindles .

ISTAT poll showed that after three months of enterprises believe that Italy ‘s economy will gradually step away from the troubles in October , this hope has evaporated.

Confidence Index fell from 82.8 in the previous month to 79.3 in October. This decline is believed to be entirely logical thing , in the context of political instability Italy , public debt has reached 135 % of GDP and economic policy of the government has not created a positive change .

The things that Italy could be the company for economic evaluation and financial downgraded in the next quarter , a huge blow for Italy at the moment they are no longer in the eight economies of developed countries another world , which has slipped to ninth , after Russia .

Meanwhile , the third quarter saw the lowest difference of 10 years between the number of businesses closed due to bankruptcy and the establishment of new businesses .

A statistical Italy Chamber of Commerce ( Unioncamere ) showed that from January 7-9/2013 , with 76 942 new businesses and 64 008 active registered businesses fail .

Manufacturing of traditional handmade products most affected Italy in the year , with 1,845 businesses shut down . In this bleak picture , there are few positive details .

ISTAT said in May 8/2013 , retail sales in Italy increased from 0.2 % over the same period in 2012 .

Prestigious economic newspaper Il Sole 24 Ore said that , not very long before new Italian economy out of recession and the confidence of businesses and consumers new stabilized .