ITALY

摘要

Italy likely entered its fourth period of recession since 2001 as Q4 GDP could fall even more quickly than the 0.2% (q-o-q) decline seen in Q3. This follows the introduction of emergency austerity measures. Hikes on taxes, reduced public spending and economic restructuring have reined in local business confidence from 92.5 in Decemberto92.1 in January whilst consumer sentiment is at a 16-year low. Our panellists expect GDP to plummet by 1.4% in 2012, the sharpest collapse in output in the G-7.