Home Business News Italy falls into recession after economy shrinks

Italy falls into recession after economy shrinks

by LLB Reporter
31st Jan 19 10:40 am

Italian prime minister, Guiseppe Conte has said the country has fallen into a recession, the economy has shrunk by 0.2% in final quarter of 2018, following 0.1% decline in the third quarter.

Economic growth across 19 countries in the eurozone is languishing, and Italy’s growth has been dragged down due to a slowdown across the continent.

The Italian statistical agency, Istat said the decline is mainly due to a, “decrease of value added in agriculture, forestry and fishing as well as in industry.”

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