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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Italy GDP Growth (1961-2023)
Italy’s economic growth history shows periods of growth followed by stagnation. The 1960s to early 1970s were strong, with GDP growth exceeding 6% in some years. The 2008 financial crisis and the subsequent Eurozone crisis severely impacted the economy, causing contractions in 2009 and 2012. Recovery efforts brought temporary stability, with a notable rebound of 8.3% in 2021 following the pandemic. By 2023, Italy’s growth rate had slowed to 0.9%, reflecting structural challenges in revitalizing the economy.
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