Moscovici speaks as he presents the commission's latest forecasts
- Slowdown set to be more pronounced than expected
- Global trade uncertainties are factored in forecasts
- There is considerable uncertainty on Italy's fiscal policy
- Slowdown could last longer than expected earlier
The latest forecasts here confirms that the commission forecasts Italy's growth to slow to a five-year low while at the same time predicting that Germany will still escape a recession. Nonetheless, it's a bearish message and if economic data continues to deteriorate like what we have seen to start January, it's only a matter of time before these forecasts become dated once again.