MILAN – 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 have haunted the bloc in the past. 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. 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. The plan means Italy would not reduce its debt load, which at over 130 percent is the highest in Europe after Greece. ADVERTISEMENTItalian Premier Giuseppe Conte sought to downplay the recession and placed the blame firmly on the trade spat between the United States and China, which he says has weighed on Italian exports.

Source: Philippine Daily Inquirer January 31, 2019 12:33 UTC