It has emerged today that Italy is now in a recession.
The economy shrank by 0.2% in the last quarter of 2018, a worse situation than expected.
+++ Italy is back in recession. The economy shrank by 0.2% in Q4 2018, following a 0.1% contraction in Q3. #recessione
— Ferdinando Giugliano (@FerdiGiugliano) January 31, 2019
Yesterday, Germany halved its economic forecast for 2019 from 1.8% to 1%. European economies are struggling.
It underlines why EU leaders really do need to secure a deal with the UK, with a No Deal likely to hit European economies.