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Italy only G7 member with negative Q1 GDP

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Staff writer ▼ | May 21, 2014
Italian gross domestic product (GDP) fell by 0.1% in the first quarter of 2014 with respect to the previous quarter and by 0.5% with respect to the first quarter of last year, the Organisation for Economic Co-operation and Development (OECD) said.
ItalyItalian gross domestic product (GDP) fell by 0.1% in the first quarter of 2014 with respect to the previous quarter and by 0.5% with respect to the first quarter of last year, the Organisation for Economic Co-operation and Development (OECD) said.


Italy was the only member of the Group of Seven (G7) largest industrial nations to see its GDP contract during the period as its economy struggled to recover after emerging from recession in the second half of last year. GDP across eurozone countries rose by 0.2% in the first quarter of 2014 with respect to the last quarter of 2013 and by 0.9% with respect to the first quarter of last year.

On Tuesday the yield spread between Italian 10-year bonds and their benchmark German equivalent rose to 188 basis points from the 180 basis points registered at the close of Monday trading. The yield on Italian 10-year bonds rose to 3.23%.

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