Author(s): Martin Larch (Directorate General for Economic and Financial Affairs)
The Italian economy has shown weak growth ever since the beginning of the 1990s. More recently it has developed two particularly striking, interlinked symptoms:
a discouraging performance by exports and
the longest stagnation of output in the tradable goods sector in post-war history.
In contrast to previous episodes of weak growth, the current difficulties are not caused by supply shocks such as excessive wage increases.
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