(Bloomberg) -- To see how the turmoil in Italy is affecting the economy, the change in the stock of loans to households and non-financial corporations may provide more insight on the expansion of gross domestic product than the actual growth rate, according to Bloomberg Economics. The three-month average stood at minus 2.6 percentage points in April and Italy was already alone among the euro area's four largest economies in making a negative contribution to the aggregate figure. Still, the latest number is far from the minus 10.4 percentage points registered in May 2012.
To contact the reporters on this story: David Powell (Economist) in London at dpowell24@bloomberg.net;Jamie Murray (Economist) in London at jmurray126@bloomberg.net
To contact the editors responsible for this story: Sheldon Reback at sreback@bloomberg.net, Zoe Schneeweiss
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