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Italy’s GDP to fall in Q1 of 2009

  Italy will see its GDP fall in the first quarter of 2009, the fourth drop in a row, Bank of Italy Governor Mario Draghi said on Tuesday.

“All key economic indicators (output, orders and warehouse stock) continue to slow down,” he said. “The first quarter of this year will see GDP decline for the fourth quarter in a row,” Draghi told the lower house finance committee. “It is likely that for all 2009 there will be another significant decline in economic activity, especially for the private sector,” the central bank governor added. (Xinhua)