(Colleen Barry & Pan Pylas – Associated Press)
Italy has fallen back into recession, intensifying concerns about the 19-country eurozone economy and a possible flare-up in the debt market jitters that had haunted the bloc in recent years.
The Italian economy, the third-largest in the eurozone, contracted by a quarterly rate of 0.2 percent in the fourth quarter of 2018, the national statistics agency said.
Following a 0.1 percent drop in the previous three-month period that means Italy is in a technical recession, defined as two straight quarters of economic contraction — just four years after its last one.
Italy’s recession is one reason why the wider eurozone slowed in 2018, along with uncertainties related to Brexit, the China-U.S. trade spat and new vehicle emissions standards. Click here to read more.