Italian economy contracts by 0.2%

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Source: Bloomberg
© Scanpix/Reuters
Italian domestic product was lower by 0.2% comparing with the second quarter, when it shrunk by 0.7%, as the National Statistics Institute Istat announced on Thursday. The economy contracted less than economists estimation, which median was 0.5% according to a Bloomberg survey. However, that was the fifth quarter as economy shrunk and Italy entered the second year of recession.
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Thu, 15 Nov 2012 13:59:42 GMT

UK shares slide after retail sales data

UK stocks declined on Thursday after the eurozone's economy fell into double-dip recession. The eurozone's economy contracted by 0.1% in Q3 after shrinking by 0.2% in the previous quarter. Moreover, UK retail sales slid more-than-expected last month, dropping the most in six months. Concerns over the US fiscal cliff as well as uncertainty over Greek bailout also weighed on UK

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