From: The New York Times
It’s not often that we’re moved to write about the Italian economy. But this morning’s news that it has shrunk for two quarters in a row — meeting a widely used threshold for the declaration of a recession — is worth noting. Italy has sunk into a triple-dip recession.
The downturn follows an incomplete recovery from the 2011 recession in the wake of the eurozone crisis, which in turn followed an incomplete recovery from the 2008 global financial crisis.