Italy's GDP grew just 0.1 percent in the first quarter of this year, official figures showed on Friday, revising downwards an earlier forecast in bad news for the government as it locks horns with Brussels.
The 'non-observed' economy - comprising both underground and illegal activities - was worth €211 billion in 2014, accounting for 13 percent of the country's entire GDP.
A new study reveals that foreign workers in Italy contribute almost as much to the national economy as Fiat - Italy's biggest car manufacturer and one of the country's largest companies.
Italy's recovery from recession virtually stalled towards the end of 2015, complicating Italian efforts at debt reduction, worse-than-anticipated growth figures indicated on Friday.
The Bank of Italy on Friday forecast the country's gross domestic product (GDP), enhanced by a rise in domestic demand, will expand by 1.5 percent in 2016 and 2017, in line with government estimates, after rising 0.8 percent in 2015.
Italy's Economy Minister Pier Carlo Padoan said that Italy's predicted return to growth for 2015 could be harmed by the fallout of the recent Paris terror attacks.
Italian Finance Minister Pier Carlo Padoan has praised Italy's economic recovery after the OECD raised its growth forecast for the economy in 2016 and 2017.
The European Commission has revised Italy’s growth forecast upwards for 2015, saying on Thursday that the country is “moving towards more self-sustaining growth”.
The Italian economy grew by 0.2 percent in the second quarter of 2015, lower than the EU average, according to figures released by the national statistics agency, Istat.
The International Monetary Fund (IMF) has dampened the optimism over Italy’s recovery after saying it will take almost 20 years for the country to get its unemployment rate down to pre-crisis levels.
Italian exports were up by 9.2 percent in March compared to the same month in 2014, mostly driven by demand from outside the EU, the national statistics agency, Istat, said on Monday.
Italy’s economy has made a comeback, growing 0.3 percent in the first quarter of this year – as fast as Germany, perceived to be the eurozone’s economic ‘powerhouse’.
Growth momentum is strengthening in the eurozone, data from the Organization for Economic Cooperation and Development (OECD) released on Thursday showed, particulary in Italy and France.
Italy's economy stagnated in the fourth quarter of 2014 thanks to sluggish domestic demand, going against the European trend in which most countries registered growth, figures released on Friday show.
Italy learnt it was no longer in a recession on Wednesday thanks to a change in data calculations across the European Union which includes illegal economic activities such as prostitution and drugs in the GDP measure.
Italy's statistics agency on Thursday said estimated revenues from drug trafficking and the sex trade will be used to calculate gross domestic product (GDP) starting next year in a move expected to boost its economic results.
Italy's public deficit inched down to 2.8 percent of gross domestic product in 2013 - 0.1 of a point lower than in 2012 and staying below the EU threshold of 3.0 percent, official data showed on Monday.
Italy's economy shrank by 1.9 percent in 2013, hitting a new record of 132.6 percent of GDP but staying within the European Union's limit in mixed news for the country's new government, official figures showed on Monday.
Italy's economy began a recovery in the fourth quarter of 2013 with 0.1-percent growth - the first positive result following a two-year recession, official data from the Istat agency showed on Friday.
Italy's public deficit rose to 3.7 percent of gross domestic product (GDP) over the first nine months of last year, the official data agency said, raising the risk that it could breach the EU threshold.
Italy worsened its official growth forecast for 2013 on Monday, predicting a shrinkage in gross domestic product (GDP) of 1.8 percent compared to a previous estimate of 1.7 percent contraction.
