DETECTION ISTAT
Milan , August 6, 2014 – 11:08
Cold shower on shooting, because Italy is in a technical recession in the second consecutive quarter downturn. The GDP in the second quarter of 2014 is still negative down 0.2% compared to the previous three months, when he was a decline of 0.1%. On an annual basis, however, down 0.3%. The economic downturn, said the Mayor, is the synthesis of a decrease in the value added in all three major sectors of economic activity: agriculture, industry and services, and is worse than analysts’ expectations, which indicated a fork between -0 , 1% and 0.1%. The decline seems to be affected by the weakening of the thrust from the outside border on the demand side because the contribution to the change in GDP, gross inventories, is zero, while that of net foreign component is negative. Instead starts industrial production in June, but, after two months of declines, it is not enough to return to positive throughout the quarter.
The impact on the stock market
The result is an additional current sales at Piazza Affari, weak and burdened by the start of session given by the GDP: the FTSE Mib – largely the worst in Europe – lost 3%. Suspension volatility auction for Fiat (-8% predicted), BPM, Mps and Atlantia. Unicredit and Intesa yield 4%, take Tod’s and Pirelli. “It ‘a very surprising number. At this point, based on the first two quarters, there is a decent chance that the final figure bait down 0.1% on year, “says Luke Mezzomo of Intesa Sanpaolo. The spread BTP / Bund widened and travels around 166.5.
analysis
“The country has to be rebuilt, but no additional maneuvers, rather we want to invest in new factories and infrastructure, “says economist James Vaciago. “On February 12 last year – he explains – a week before leaving Palazzo Chigi, Enrico Letta wrote: Italy is still fragile but it is ready to be rebuilt. That I fully endorse the statement. But be careful – make Vaciago – rebuild does not mean doing maneuvers and therefore continue to flagellarci, but it means making investments. The country is not growing for twenty years and goes back five. It was like an earthquake, we lost 20% of our factories. We need to rebuild and make new infrastructure, go ahead. ” While the secretary of CISL, Raffaele Bonanni, claiming the need for “a more vigorous and structural cutting of taxes on workers and businesses that invest, make a recommendation, this, that it is Europe that tells us, in fact, to move consumption taxes. ” According to the French economist Jean PaulFitoussi and professor at the University LUISS “loosen the constraints EU is a necessary but not sufficient: we need investment policies in order to build a future after the years that have been lost.” For this reason, “Renzi’s right, it’s good to go to Brussels and ask for these things. If we want to get out of the recession the only way forward and that growth and investment. ”
August 6, 2014 | 11:08
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