Italy's Unemployment Rate Fell in July as Economic Recovery Gathered Pace
Italy’s jobless rate fell in July as the recovery in Europe’s fourth-biggest economy gathered pace.
Unemployment dropped to a seasonally adjusted 8.4 percent from 8.5 percent in June, the European Union statistics office in Luxembourg said today. Euro-region joblessness was unchanged at 10 percent in July, Eurostat data showed.
Italy’s economy expanded for a second quarter in the three months through June, a sign that the country’s recovery from its worst recession in six decades is gathering strength. Italian business confidence rose to its highest in more than two years in August as businesses grew more optimistic about demand both at home and abroad, Rome-based research center Isae said today in an e-mailed statement.
Industrial production climbed 0.6 percent in June from the previous month and 8.1 percent from a year ago in more than two years in July. A drop in the euro this year has helped make Fiat SpA cars and Luxottica Group SpA eyewear cheaper abroad.
To contact the reporter responsible for this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net
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