Italy in longest recession for 20 years

Last three months of 2012 sixth quarter of negative growth

Italy in longest recession for 20 years

Rome, February 14 - Italy is in its longest recession for 20 years, Istat said Thursday, after the country posted negative growth for the sixth consecutive quarter in the last three months of 2012. In the fourth quarter of 2012 Italy's gross domestic product (GDP) fell 0.9% with respect to the previous three months and 2.7% with respect to the same period in 2011, the national statistics agency said. Istat said that last time the nation posted six consecutive quarters of negative growth was between 1992 and 1993. Italy's GDP for the whole of 2012 was down 2.2% on the previous year, according to seasonally adjusted data.

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