Il sorpasso (economics)

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Il sorpasso ([il sorˈpasso]; Italian for "the overtaking") is a term used by Italian press and commentators to designate the 1987 Italy's overtaking of Britain's economy in nominal GDP terms.[1] Italy's per capita income was $15,120 by 1989, compared with Britain's $14,160 (and the USA's $20,630).[2] Italy was now the fifth largest economy in the world, after United States, Japan, West Germany, and France. The United Kingdom regained its position over Italy in 1997.

In 2009, Britain was briefly overtaken by Italy for a second time, leading the Italian ambassador, Giancarlo Aragona, to talk of a secondo sorpasso.[3]

References[edit]

  1. ^ Echikson, William (May 8, 1987). "Il sorpasso has Italians riding high". The Christian Science Monitor. Retrieved 8 October 2014. 
  2. ^ Clark, Martin (2008). Modern Italy, 1871 to the present (3rd ed.). Harlow, England: Pearson Longman. p. 472. ISBN 978-1405823524. 
  3. ^ Conway, Edmund; Porter, Andrew (23 October 2009). "UK economy overtaken by Italy". The Daily Telegraph. Retrieved 8 October 2014.