EC says Italy's recession ending, 0.7% growth in 2014
In line with Istat, but lower than Italian govt's prediction05 November, 11:10
"The recession could be at the turning point," the Commission said.
"After another strong contraction in 2012-13, activity will gradually recover in 2014-15". The Commission forecast that Italy's unemployment rate for 2013 will be 12.2%, slightly higher than Istat's prediction of 12.1%, and will rise to 12.4%, the same as Istat's forecast. Experts say there is a time lag between an economy recovering from recession and an upturn in employment.
The Commission sees Italy's unemployment rate dropping to 12.1% in 2015.