A tale of two economies
As the north limps ahead, the south swoons
AFTER three years of recession, Italy’s economy actually grew in the first three months of the year, by 0.3% compared with the previous quarter. It is forecast to grow by 0.7% over the year as a whole, boosted by a weak euro, cheap oil, the European Central Bank’s bond-buying programme and a reform-minded government. That looks good compared with the country’s grim recent record: between 2001 and 2013 GDP shrank by 0.2%.
This article appeared in the Finance & economics section of the print edition under the headline “A tale of two economies”
From the May 16th 2015 edition
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