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The economy of Italy is a highly developed social market economy. [30] It is the third-largest national economy in the European Union, the second-largest manufacturing industry in Europe (7th-largest in the world), [31] the 8th-largest economy in the world by nominal GDP, and the 11th-largest by PPP-adjusted GDP. Italy is a developed country ...
In the recent decades, however, Italy's economic growth has been particularly stagnant, with an average of 1.23% compared to an EU average of 2.28%. Previously, Italy's economy had accelerated from 0.7% growth in 1996 to 1.4% in 1999 and continued to rise to about 2.90% in 2000, which was closer to the EU projected growth rate of 3.10%.
Downtown Milan in the 1960s. The Italian economic miracle or Italian economic boom (Italian: il miracolo economico italiano or il boom economico italiano) is the term used by historians, economists, and the mass media [1] to designate the prolonged period of strong economic growth in Italy after World War II to the late 1960s, and in particular the years from 1958 to 1963. [2]
ROME (Reuters) -Italy's economy performed unexpectedly well in the third quarter, data showed on Monday, offering a welcome boost for the country's new government as it plans extra borrowing to ...
Italy will probably balance its primary budget this year, excluding interest payments on government debt, the economy minister said on Friday, as Rome prepares a medium-term fiscal plan for ...
Analysts have predicted Italy had entered a recession in the second quarter or would enter one by the end of the year with business confidence at its lowest levels since the 11 September attacks. [28] Italy's economy contracted by 0.3 percent in the second quarter of 2008. [29] The unemployment rate rose from 5.7% in April 2007 to 8.6% in April ...
Italian coalition administrations tended to last just over a year before collapsing, making Italy predictably unpredictable. ... Risks stack up for the global economy in 2025. Food.
The IMF also warned Italy that the passing of their proposed budget could result in a recession that could last until the mid 2020s. [7] Italy's economy has been in turmoil since 2008 and the IMF predicts that at the current growth rate the anti-EU government will prolong Italy in reaching the economic prosperity it had prior to the collapse.