Italian Economy

Pasquale M DeAngelis Economic Principles I
Italy’s Inefficiency
In the past three years, Italy has experienced a roller coaster economy. Currently, the country’s GDP (or PIL) is on the rise after 4 straight quarters of decline. Notwithstanding, it grew less than expected in the third quarter, due to inefficient factory output and wretched consumer morale. The rise, according to National statistics agency, Istat, said GDP grew a provisional 0.3% in three months from July to September- a tenth of a point lower than economists’ forecasts. The cause of this can be mostly blamed on exogenous events that affected crucial facets of the economy. The central problem within Italy and its respective economy is the lack of efficiency: dealing with institutions such as schools and companies. Italy’s population also feels the affects of the problem because they acquire a feeling of insecurity and therefore do not invest. The Italian government nee...