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Italy’s economy expanded in the fourth quarter below economists’ expectations and at the slowest pace in a year, prompting concerns that the recovery from the country’s longest recession since World War II might falter in coming months.
Gross domestic product rose 0.1 percent in the three months through December, Rome-based statistics agency Istat said in a preliminary report on Friday. That was below the 0.3 percent estimate of 22 analysts in a Bloomberg survey. GDP expanded 1 percent from the same quarter of 2014 while its non-seasonally adjusted growth last year was 0.7 percent, the report said.
It's been the same story since the early 1990s, except for a few bouts of sharp rebound in the wake of sharp exchange rate devaluations during the European exchange rate mechanism period, featuring narrow fluctuation bands, and the run-up to introduction of the euro (ECU and so forth, look it up, around 1992, 1994, 1997). So more than two decades now and the outlook for the next several years and decades is no better.
You are a bit naïve to think about buying a residential property in Italy, and even more so if you are young. I would only recommend renting and only if you are old and retired, looking backwards upon your life and history, expecting to die relatively soon with no heirs.
It's been the same story since the early 1990s, except for a few bouts of sharp rebound in the wake of sharp exchange rate devaluations during the European exchange rate mechanism period, featuring narrow fluctuation bands, and the run-up to introduction of the euro (ECU and so forth, look it up, around 1992, 1994, 1997). So more than two decades now and the outlook for the next several years and decades is no better.
You are a bit naïve to think about buying a residential property in Italy, and even more so if you are young. I would only recommend renting and only if you are old and retired, looking backwards upon your life and history, expecting to die relatively soon with no heirs.
That's what Italy is best at.
Good Luck!
I am a huge fan of Roman Empire and hey you're from there
I'm still planning to buy a place in Sicily but of course i got no hurry now
It's very sad for me to see once a great empire is in a bad shape
I will still be a bit naive and maybe Italy can emerge from this mess
I'm still planning to buy a place in Sicily but of course I got no hurry now
Unless you have relatives in a specific city, I would suggest researching in the southern arc of Sicily, from Syracuse to Agrigento or thereabouts. Possibly better climate in winter because of more southern exposure and more ancient history, especially from as early as Punic and Greek times.
But for God's sake, man, think about renting first long before buying, get to know people in a local area, do research, your own research, not by word of mouth, especially legal, regulatory and tax research regarding property ownership, there is a lot that can go wrong. Trust no one.
The 0.2% that the U.S. achieved in the last quarter was also not that impressive (Italy 0.1%). European Union: 0.3%. Yeaahhh Europe grows faster
I think such GDP figures should be put in relation to the developement of the overall debt (public, private households, corporations). But I don't have figures for this At least Italy has growing current account surplusses. That will help to improve it's net international investment position. It's still deeply in the red (-27.9% of GDP), but it's worse in many other countries: Spain -94.1%, Ireland -106.7%, Greece -124.1%. Ireland will easily getting out of the mess. It will be much more challenging for Spain or Greece. The net international investment position of the U.S. is about -40.3%. But that's not a problem for the U.S. Doesn't make much sense to compare it to the situation in Italy. The "best" countries in the EU by this measurement are the Netherlands with +60.8% and Belgium with +59.1% of GDP.
The 0.2% that the U.S. achieved in the last quarter was also not that impressive (Italy 0.1%). European Union: 0.3%. Yeaahhh Europe grows faster
I think such GDP figures should be put in relation to the developement of the overall debt (public, private households, corporations). But I don't have figures for this At least Italy has growing current account surplusses. That will help to improve it's net international investment position. It's still deeply in the red (-27.9% of GDP), but it's worse in many other countries: Spain -94.1%, Ireland -106.7%, Greece -124.1%. Ireland will easily getting out of the mess. It will be much more challenging for Spain or Greece. The net international investment position of the U.S. is about -40.3%. But that's not a problem for the U.S. Doesn't make much sense to compare it to the situation in Italy. The "best" countries in the EU by this measurement are the Netherlands with +60.8% and Belgium with +59.1% of GDP.
In real terms the US economy has grown 10.6% from its 2007 level... not super impressive, but much better than the 1.7% achieved by Western Europe. Western Europe now has a smaller economy than the US for the first time since the late 1950s when Europe was still recovering from WWII.
It can be easily explained by the trade market being at a low due to a deep economic crisis in Brazil, a slowing down of China and the sanctions on Russia. Practically the only of the largest emerging markets where there doesn't seem to be problems is India
That means that economy which was going well until December has taken a bit of a hit and i think it will return to a loss in the first quarter of 2016. Actually the Eurozone on a whole is at risk of posting a loss.
Anyway, i wouldn't look at growth for countries such as Italy. I would be happy if our economy grew up around 1% every year, our population is stagnating and therefore economy doesn't have to keep up with demografic growth.
By the way growth equalled 0,2% the same as the USA and just below France and Germany
In real terms the US economy has grown 10.6% from its 2007 level... not super impressive, but much better than the 1.7% achieved by Western Europe. Western Europe now has a smaller economy than the US for the first time since the late 1950s when Europe was still recovering from WWII.
(It should also be noted that European GDP calculations add things in that the US doesn't count, If the US did it's economy would be ~3% larger.)
Western European countries had to face a deeper crisis due to a couple countries high debt (to the point of being on the verge of bankruptcy) and the effects on the stock market, endless speculation and in the end the sanctions they had to impose against Russia led to a slowing of investment and exports
Quote:
Originally Posted by J.Thomas
I am a huge fan of Roman Empire and hey you're from there
I'm still planning to buy a place in Sicily but of course i got no hurry now
It's very sad for me to see once a great empire is in a bad shape
I will still be a bit naive and maybe Italy can emerge from this mess
What mess? 0,2% (the real growth for the 3 months) is disappointing but still decent enough. It's on par with France, Germany, the USA and the UE's average.
Last edited by improb; 02-12-2016 at 04:10 PM..
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At least Italy has growing current account surplusses. That will help to improve it's net international investment position. It's still deeply in the red (-27.9% of GDP), but it's worse in many other countries: Spain -94.1%, Ireland -106.7%, Greece -124.1%. Ireland will easily getting out of the mess. It will be much more challenging for Spain or Greece. The net international investment position of the U.S. is about -40.3%. But that's not a problem for the U.S. Doesn't make much sense to compare it to the situation in Italy. The "best" countries in the EU by this measurement are the Netherlands with +60.8% and Belgium with +59.1% of GDP.
