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Over 4 million Italians in absolute poverty in 2013

Confcommercio revises downwards to 1.7% drop in GDP

22 March, 12:08
Over 4 million Italians in absolute poverty in 2013 (ANSA) - Cernobbio (Como), March 22 - Over four million Italians will be living in absolute poverty by the end of 2013, retailers' association Confcommercio said on Friday.

This figure translates into over 6% of the population and compares to the 3.9% living in absolute poverty in 2006.

The statistics are contained in Confcommercio's monthly Misery Index drawn up on the basis of official unemployment and temporary redundancy figures and variations in the cost of goods and services. The retailers' association also revised downwards its predicted fall in gross domestic product (GDP) for 2013 from 0.8% five months ago to a current 1.7%. Next year GDP is expected to show a net increase of 1%, Confcommercio said.

photo: a food line at an Italian church