economics

Italy’s Credit Impulse Doesn’t Bode Well for the Economy

To see how the turmoil in Italy is affecting the economy, the change in the stock of loans to households and non-financial corporations may provide more insight on the expansion of gross domestic product than the actual growth rate, according to Bloomberg Economics. The three-month average stood at minus 2.6 percentage points in April and Italy was already alone among the euro area’s four largest economies in making a negative contribution to the aggregate figure. Still, the latest number is far from the minus 10.4 percentage points registered in May 2012.

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