Arab Today, arab today spanish economy shrinks 04 in q1
Last Updated : GMT 18:50:25
Arab Today, arab today
Arab Today, arab today

Spanish economy shrinks 0.4% in Q1

Arab Today, arab today

Arab Today, arab today Spanish economy shrinks 0.4% in Q1

Madrid - QNA

The Spanish economy contracted by 0.4% in the first quarter, compared with the last quarter of 2011, the Bank of Spain said Monday. Gross domestic product shrank 0.5% year-on-year. The Spanish government had previously said it expected the economy to shrink 1.7% this year. Spain\'s recession and 23-per-cent unemployment have sparked concern that it may eventually need a bailout from the European Union and the International Monetary Fund.

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