Italy GDP shrinks, recession continues in Q2

Note: This section contains information in English only.
Source: Reuters
Italy's economy dropped 0.7% in the second quarter, as reported on Tuesday. ISTAT said that GDP fell 2.5% year-on-year after a drop of 1.4% in the first quarter, showing the deepest decline since the end of 2009. The data creates struggle for Mario Monti, who is targeting to diminish the budget deficit to 0.1% of GDP through 2014, to fulfill his public finance aims.
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