Wednesday January 29, 2020

Spanish economy slipped into recession in first quarter

Spain’s economy contracted in the first quarter, putting the euro zone’s fourth-largest economy into its second recession since 2009.

30th April, 2012
2
Spanish GDP is down 0.4 per cent this year.

Spain’s economy contracted in the first quarter, putting the euro zone’s fourth-largest economy into its second recession since 2009.

Gross domestic product fell 0.3 per cent, the same as in the previous three months, the Madrid-based National Statistics Institute said today. That compares with the Bank of Spain’s estimate on April 23 for a 0.4 per cent decline. From a year ago, GDP dropped 0.4 per cent, INE said.

Spain’s government is struggling to...

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