Italy is out with ugly data revisions to its national accounts: It expects its 2012 government...

|By:, SA News Editor

Italy is out with ugly data revisions to its national accounts: It expects its 2012 government deficit to be 2.6% of GDP vs. an earlier estimate of 1.7%. 2012 GDP of -2.4% vs. -1.2%. 2013 deficit of 1.6% vs. 0.5%. 2013 GDP of -0.2% vs. +0.5%. 2013 debt/gdp ratio of 127.1%, up from an expected 126.4% in 2012.