Arab Today, arab today spain’s woes continue as economy shrinks by 14 in 2012
Last Updated : GMT 17:33:23
Arab Today, arab today
Arab Today, arab today

PM Rajoy predicts optimistic future, analysts disagree

Spain’s woes continue as economy shrinks by 1.4% in 2012

Arab Today, arab today

Arab Today, arab today Spain’s woes continue as economy shrinks by 1.4% in 2012

pain has failed to pull itself out of recession since 2008
Madrid - Arabstoday

pain has failed to pull itself out of recession since 2008 Spain\'s economy sank deeper into recession in the fourth quarter of last year as high unemployment and biting austerity measures prompted households to slash spending, official data showed on Thursday. The eurozone\'s fourth largest economy shrank by 1.4 percent on an annual basis in 2012, a slightly better performance than the decline of 1.5 percent forecast by the government, AFP has reported.
The economy shrank 0.8 percent in the final quarter of 2012 from the previous three months, after dropping 0.3 percent in the third quarter, the national statistics institute said.
The figures were slightly bleaker than preliminary data released last month by the statistics institute which saw the economy contracting by 0.7 percent in the final quarter on a quarterly basis and by 1.37 percent for the entire year.
Spain is grappling with a double-dip recession and 26 percent unemployment rate, having never recovered from a real estate crash in 2008.
Prime Minister Mariano Rajoy\'s conservative government forecasts the economy will return to growth in the second half of 2013.
It forecasts an economic contraction of 0.5 percent in 2013 followed by an expansion of 1.2 percent in 2014, a significantly more optimistic forecast than that of most analysts and international organisations.
Activity is being cramped by his government\'s programme of spending cuts and tax rises, aimed at saving €150bn ($194bn) between 2012 and 2014, which have prompted mass street protests.
The Spanish economy appeared to continue its contraction in the first quarter of 2013 due to sluggish domestic demand, the Bank of Spain said Wednesday in its latest monthly economic bulletin.
The government has vowed to lower the public deficit from the equivalent of 9.4 percent of annual gross domestic product last year to 2.8 percent in 2014.
Analysts say those targets will be hard to reach in a period of declining economic activity.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain’s woes continue as economy shrinks by 14 in 2012 Arab Today, arab today spain’s woes continue as economy shrinks by 14 in 2012

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 12:38 2017 Thursday ,23 February

Lower fares hit Qantas first half profit

GMT 10:57 2017 Thursday ,23 February

Chief executive out at Paramount Pictures

GMT 07:26 2017 Thursday ,23 February

A peek inside Qatar's 'gas capital of the world'

GMT 11:26 2017 Wednesday ,22 February

Dutch corporate takeover defences tough to breach

GMT 11:14 2017 Wednesday ,22 February

Lloyds Banking Group posts surging profits

GMT 10:01 2017 Tuesday ,21 February

Egypt pound rebounds from flotation slide

GMT 09:57 2017 Tuesday ,21 February

Greece agrees to bailout reforms compromise
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday