Italy GDP Lost 6.5% Due to Financial Crisis, Central Bank Says
This article is for subscribers only.
Italy’s gross domestic product lost 6.5 percentage points between 2008 and 2010 as a result of the recession sparked by the global financial crisis, researchers at the country’s central bank said.
“The events prompted by the financial turmoil subtracted 6.5 percentage points” from GDP in that period, according to an article by researchers including Michele Caivano published today on the Bank of Italy’s Web site. “Crisis factors curtailed GDP growth by about 10 percentage points, while economic policies and automatic stabilizers mitigated the impact by about 3.5 percentage points.”