Rome

Bank of Italy says next year of growth not until 2014

Warns there are 'large margins of uncertainty'

Bank of Italy says next year of growth not until 2014

(see related stories) Rome, January 18 - Although Italy is set to pull out of recession in the second half of this year, the nation will not post a positive gross domestic product figure for the whole year until 2014, the Bank of Italy said in a report on Friday. The central bank added that even then it will be only be modest growth of 0.7% and warned that there were "large margins of uncertainty" about this forecast. It said 2014 will be of a year of growth on the basis of a scenario in which there is a "gradual resumption of investments following the normalisation of finance conditions, recovery of (consumer) demand and...a climate of confidence".

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