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Recession Affects Farming in Third Quarter

12 December 2012

ITALY - The economic recession in Italy has now taken hold of agriculture as ISTAT (the Italian Statistics Service) has reported a 6.7 per cent decline in economic output in the third quarter for 2012.

The overall dip experienced by agriculture seen in October year on year is 5.1 per cent, according to ISTAT data.

The economic decline over the first nine months of 2012 in agriculture was still considerable but not as large as that seen elsewhere in the economy, announced Confagricoltura.

"Despite the crisis and difficulties, agriculture has the potential to improve and could offer broader benefits through increasing employment and exports with the emphasis being on improving the competitiveness of companies."

"Farming needs a boost to cope with tensions of raw materials and energy prices. Adding to the tax burden is not the answer but the costs of production have to be managed better," concluded Confagricoltura.

TheCattleSite News Desk



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