Italy’s ISTAT is doing some late pruning to growth estimates and while they match the government’s estimates of -0.3% for 2014, which were previously forecast at +0.6%. 2015 has been halved to 0.5% from 1.0% and 2016 to 1.0% from 1.4%.

The downgrades come as a result of a “weaker outlook for world trade and investment in Italy” says ISTAT. If only that was the least of their problems


They also confirmed the 2015 unemployment rate at 12.5% for 2015 and raised 2016 to 12.1%