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Italy's economy in the 21st century has been mixed, experiencing both relative economic growth and stagnation, recession and stability. In the late 2000s recession , Italy was one of a few countries whose economy did not contract dramatically, and kept a relatively stable economic growth, although figures for economic growth in 2009 and 2010 ...
The economy of Italy is a highly developed social market economy. [31] It is the third-largest national economy in the European Union, the 8th-largest economy in the world by nominal GDP, and the 11th-largest by PPP-adjusted GDP. The country has the second-largest manufacturing industry in Europe, which is also the 7th-largest in the world. [32]
Analysts have predicted Italy had entered a recession in the second quarter or would enter one by the end of the year with business confidence at its lowest levels since the 11 September attacks. [28] Italy's economy contracted by 0.3 percent in the second quarter of 2008. [29] The unemployment rate rose from 5.7% in April 2007 to 8.6% in April ...
Italy has been a member of the International Monetary Fund (IMF) since 1947, they joined in an effort to revive the economy after WWII. Currently Italy has a 3.02% vote share. Recently IMF have claimed that Italy's proposed budget which has a deficit of 2.4% of their GDP could lead to a recession that would last till the 2020s
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] ... Italy, Ireland, Portugal, France ...
The recession in the economy is now also projected to last until 2013, with GDP declining 3% in 2012 and 1% in 2013; followed by a return to positive real growth in 2014. [147] Unemployment rate increased to over 17% by end of 2012 but it has since decreased gradually to 10,5% as of November 2016.
A recession is a period of two quarters of negative GDP growth. The countries listed are those that officially announced that they were in recession. It is worth noting that some developed countries such as South Korea and Australia did not enter recession (indeed Australia contracted for the last quarter of 2008 only to grow 1% for the first half of 2009).
Italy shares its borders with France, Switzerland, Austria, Slovenia, and two enclaves—Vatican City and San Marino. It is the tenth-largest country in Europe by area, covering 301,340 km 2 (116,350 sq mi), and the third-most populous member state of the European Union, with a population of nearly 60 million.