Official statistics show that the Italian economy fell again in the second quarter. Buy orders for German machinery is also substantially reduced, and these show that the weak economic growth is increasing the difficulty of the euro zone leaders to restore the euro area confidence.
 
According to official statistics agency ISTAT data, in 4-6 months, Italy's gross domestic product (GDP) compared to the first quarter of 2012 fell 0.7% compared to last year fell 2.5 percent. Up to now, the Italian economy is the fourth consecutive quarterly decline, the country's deep recession state. Due to the economic instability of the entire euro zone, analysts pessimistic about the short-term recovery.
 
M ay of the British economist, said the slowdown in domestic economic activity is the main reason for the decline of economic data. The decline in retail sales, the highest record low consumer sentiment and bank lending slows down in economic growth, M ay said in a research report.
 
Another independent report released on Tuesday showed that the poor state of the industrial areas in Italy deepened the economic downturn, showing industrial production fell 1.4 percent in June compared to May, compared with decline of 8.2 percent over the same period last year. Italian economic contraction reduced revenue, increase the difficulty of financing government.



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