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Italian Prime Minister Giuseppe Conte may have let slip through that the economy is in recession



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"Either his number was excluded, or the prime minister is aware of the seriousness of the situation to such an extent that he does not need official data to realize that we are in a recession," said Luigi Marattin, the opposition Democratic Party lawmaker and advisor told the former prime minister Paolo Gentiloni in an interview.

The container office said in a text message that it did not see the data in advance. A spokesman for the Bureau said no one had missed numbers.

Conte would not be the first to let the cat out of the bag.

In June, US President Donald Trump tweeted job data just hours before he was released. Because the President's business team received numbers under the embargo in the afternoon before the report, his optimism was market-aware. More than a decade ago, the Office for National Statistics of the United Kingdom shouted Prime Minister Tony Blair for mentioning unemployment before it was officially published.

The government has so far frightened the country's reluctance to recession and added that the key measures contained in its budget would help boost the economy this year. Just like last week, Conte said in an interview with Bloomberg in Davos, Switzerland that he expects GDP to reach up to 1.5 percent this year, eliminating the need to adjust the budget to meet the targets.

Both the Italian Bank and the International Monetary Fund recently expect Italy to grow by 0.6 percent this year.

Conte said the slowdown in growth is not "our fault" and is due to a general slowdown in other countries, including Germany and China.

Bloomberg


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