Chancellor George Osborne will host the G7 meeting of finance ministers at Hartwell House in Buckinghamshire.
Italian recession looks set to drag on
More gloomy news out of Italy, where industrial output dropped more than expected as the country's near two-year recession drags on.
Industrial production dropped (a seasonally adjusted) 0.8% in March, meaning it is 5.2% lower than in the same month last year. Analysts were expecting a 0.2% monthly fall.
The Italian economy – which is the third largest in the eurozone – has shrunk for six consecutive quarters, since mid-2011. Another fall in GDP in the first quarter would makeit the longest recession the country has suffered since World War II.
That looks likely to happen, as there is a close correlation in Italy between industrial production and GDP.
Friday, 10 May 2013
Eurozone crisis live: Germany faces challenge over austerity at G7
The US will call on Berlin to relax its austerity policies and boost domestic demand, as G7 finance ministers meet to discuss the fragile global recovery
Chancellor George Osborne will host the G7 meeting of finance ministers at Hartwell House in Buckinghamshire.
Italian recession looks set to drag on
More gloomy news out of Italy, where industrial output dropped more than expected as the country's near two-year recession drags on.
Industrial production dropped (a seasonally adjusted) 0.8% in March, meaning it is 5.2% lower than in the same month last year. Analysts were expecting a 0.2% monthly fall.
The Italian economy – which is the third largest in the eurozone – has shrunk for six consecutive quarters, since mid-2011. Another fall in GDP in the first quarter would makeit the longest recession the country has suffered since World War II.
That looks likely to happen, as there is a close correlation in Italy between industrial production and GDP.
Chancellor George Osborne will host the G7 meeting of finance ministers at Hartwell House in Buckinghamshire.
Italian recession looks set to drag on
More gloomy news out of Italy, where industrial output dropped more than expected as the country's near two-year recession drags on.
Industrial production dropped (a seasonally adjusted) 0.8% in March, meaning it is 5.2% lower than in the same month last year. Analysts were expecting a 0.2% monthly fall.
The Italian economy – which is the third largest in the eurozone – has shrunk for six consecutive quarters, since mid-2011. Another fall in GDP in the first quarter would makeit the longest recession the country has suffered since World War II.
That looks likely to happen, as there is a close correlation in Italy between industrial production and GDP.
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