Tag Archive | "contraction"

Italy expects 1.5 percent GDP contraction in 2012

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MILAN (AP) – Bank of Italy chief Ignazio Visco says the country’s economic contraction can be contained to 1.5 percent this year. Visco said in the annual address to shareholders in Rome on Thursday that the economy could show some signs of recovery toward the end of the year depending on the effectiveness of structural [...]

UK suffers first double-dip recession since 1970

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LONDON – Official figures shows that Britain’s economy shrank in the first quarter, putting the country officially in recession for the first time since 2009. The Office for National Statistics said Wednesday that GDP fell by 0.2 percent in the first three months of the year from the previous quarter. The first quarter drop follows [...]

Japan's economy contracts slightly

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TOKYO – Japan’s economy shrank less than first estimated in the final quarter of last year amid an increase in business investment as reconstruction from the March 2011 disasters picked up. The Cabinet Office said Thursday that the economy shrank an annualized 0.7 percent in the fourth quarter compared with its initial estimate of a [...]