The sufferings of the Italian economy kept increasing even in the second quarter and raised the prospect that it would be in recession soon.
During the second quarter output shrank about 0.3% and according to some official figures, it was the weakest quarterly performance in previous five years.
But officially, Italy is not yet in recession as this requires two successive negative quarters. During the first quarter of 2008, Italy’s economy grew around 0.5%
These figures showed a pathetic condition of the third largest European economy.
