According to the results of the fourth quarter 2014 Italy’s economy dropped 0.3% on a yearly basis. The country’s economic growth loses its pace for the 14th quarter in a row. According to the Istat’s data, it is the longest economic decline in the Italian history.
The last time the Italian economy showed growth in 2011. Back then GDP inched up by 0.4%. After it the economy started declining: in 2012 a fall made up 2.3%; in 2013, 1.9%.
However, Italy has a chance. The situation may be improved by the ECB’s QE, experts, interviewed by one of the world’s largest news agency, say. Furthermore, the weakening euro may help Italy boost exports revenue. Analysts also mentioned falling oil prices as an additional factor that will cut power bills of companies and households.
The Bank of Italy and one of the international credit rating agencies anticipate that the country’s economy will grow by 0.6%, according to the results of 2015.
Economic slowdown is logged all over Europe. In Q4 of 2014 GDP edged up 0.1% in France, 0.5% in the UK, 0.2% in Spain and 0.5% in Portugal. In Germany, the key economy in the EU, economy advanced by 0.7% over the quarter.
