It's also up to Madrid. After disappointing data on economic growth from France, Italy and Germany, Spain also records worrying numbers on GDP. In the second quarter, the increase was just 0,2%, down 0,1% compared to the January-March period. This was announced this morning by the Spanish National Statistical Institute INE, confirming the figures released by the Bank of Spain. However, the data is in line with expectations.
Driving the weak growth, according to INE, is "external demand, only partially offset by a negative contribution from internal demand". As regards the trend figure, however, GDP grew by 0,7%, down on the 0,8% recorded in the first quarter. Also in this case the number is in line with the expectations of economists.
At around 10 am the Madrid Stock Exchange was down 30%.
