Italy’s Economy Squeezed by 0.7% in Q2 2012 – Completes

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Italy reported that its economy squeezed by 0.7% in the second quarter of 2012. Early expectations stood on a drop of 0.7%, after a drop of 0.8% in Q1, 0.7% in Q4 and 0.2% in Q3. With this report, Italy completes a full year of recession. On a yearly basis, the Italian economy squeezed by 2.5%.

EUR/USD traded at around 1.2415 before the publication and is around the same levels now.

Earlier, Italy reported a drop of 1.4% in its industrial production. This was worse than a drop of 1% that was estimated. The previous month saw a rise of 1%.

Italy, the euro-zone’s third largest country, is also suffering from a rapidly rising unemployment rate.

Italian PM Mario Monti was very active recently in trying to shore up the euro-zone. More details about the Italian situation are in the monthly report, which you can download below.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.