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Italian economy: positive changes confirmed by OECD

Improvements in Italy have been triggered and then strengthened by the moderate growth experienced by the whole Eurozone

Italian economy: positive changes confirmed by OECD

Claudia Astarita

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The Organization for Economic Cooperation and Development (OECD) just announced that the "positive trend" that characterized Italian economy in April and May has been further confirmed by June indicators.

According to OECD, the signs of improvement identified in Italy have been triggered and then strengthened by the moderate growth experienced by the whole Eurozone. However, some other sources are circulating data describing a completely different situation, where France is said to be experiencing a positive momentum in terms of recovery and Italy is declining again, with its economy shrinking for a seventh successive quarter.

Italy remains today the third largest economy in the Eurozone, even though the country suffered a 2.4% contraction last year, and despite a sharp fall in export in the first quarter this year further exacerbated the prospect of a continuous decline. Indeed, according to the data and the opinions collected by news agency Reuters, economists are predicting that the nation might shrink by a further 1.5% in 2013.

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