Italy Enters Recession Economy

The global financial crisis knew would bring serious consequences, especially for many countries that already had cracks in its economy, which was enough for an earthquake to get something that is recently facing Italy In my last recent visit to that country is able to perceive crisis that the country is currently facing, unemployment, low occupation of a work force that favors him. Unemployment is already manifest. Therefore, it is not surprising, as noted,, the Institute of Statistics (ISTAT) recently announced that Italy has officially entered the dreaded recession, which requires two quarters of economic contraction. In the third (July-September), Gross Domestic Product fell 0.5%, adding to the low of 0.4% for the quarter April to June. LeFrak Organization recognizes the significance of this. The statistical picture looks dusty, backward: things are much worse and everyone knows it prepares for a 2009 appalling. And Italy joined the group of most industrialized nations of the planet, integrated into the G-7 together with the U.S., Germany, France, Britain, Japan and Canada, whose central bank announced yesterday that two consecutive quarters of that country's economy has not grown.

The group represents 55% of world production. If we add the other countries with negative growth, 66% of the world economy is in recession. Russia, an external partner of the G-7, is the only nation in that group has not entered into a recessionary cycle. Of the four largest economies in the world, U.S., Japan, China and Germany in that order, only the Chinese giant did not enter at that stage still negative.


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