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The economy continues to shrink: Italy slips into recession

Just had defused Italy's government, its budget dispute with the EU. Now the country slipping into a recession. In order for the plans to limit the national debt, again out of the question.

Italy is the end of the year 2018 as the first economy in the Eurozone in a recession slipped. In the fourth quarter, economic output fell compared to the previous quarter by 0.2 percent, after a decline of 0.1 percent in the third quarter. This is the office for national statistics announced by Istat in a first estimate. For two quarters in a row with a declining economic power, experts speak of a "technical recession".

debt-to-target in danger

The recession made it more difficult for the populist government, with the EU-Commission in December, negotiated budget goals for 2019. Italy had agreed to limit the borrowing of the state budget to two percent of economic output.

However, this Plan is based on the assumption that the gross domestic product (GDP) gains in the total year 2019 to a percent. The Central Bank in Rome, and the International monetary Fund expect for this year to just 0.6 percent. Italy is one of the world's most indebted countries. The mountain of debt adds up to more than 130 per cent of GDP.

the Italian Prime Minister, Conte was confident that the economy will get in the course of the year, the curve.

a Continuous decline in

critics accuse the government in Rome, they have aggravated by the months-long budget dispute with Brussels, the situation, as the confidence of the markets have suffered and the cost of financing of the state had been driven to the top. The coalition government wants to Fund the promise of an expensive choice, especially for a basic income and a lower retirement age.

analysts had expected the weak economic development in Italy. They were assumed to be in the final quarter of 2018, but only by a decline in economic output by 0.1 percent. Compared to last year, the Italian economy grew in the fourth quarter and grew by a meager 0.1 percent. For a year the economy has slowed performance on a continuous basis.

Conte expects speedy recovery

Prime Minister Giuseppe Conte widespread, nevertheless, Confidence for the third largest economy in the Eurozone. Business people in Milan, he had said on Wednesday that he expected before the second quarter, with a recovery in the economy. But even if "we will have to fight in the first few months of this year," given all the conditions for a recovery.

Conte makes for the decline in economy is mainly external factors such as the downturn in Germany and China, in Italy, have hurt exports. The Istat data show, however, that the downsize of the back in the fourth quarter, mainly on a decline in domestic demand. This could also be due to a positive contribution of foreign trade is not balanced.

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