Spain: 2012 GDP -1,3%, better than expected

January 23, 2013, 10:50 | di FIRSTonline editorial team | 0

For last year, the government of Mariano rajoy had forecast an even more serious drop in GDP, equal to 1,5% – According to data from the Bank of Spain, however, only in the fourth quarter did GDP contract by 0,6, 1,7% on a short-term basis and XNUMX% on an annual basis.

Spain: 2012 GDP -1,3%, better than expected

It gets worse the Spanish recessionbut less than expected. According to the latest data released by the Central Bank of Madrid, in 2012 the economy of the Iberian country recorded a contraction of 1,3%, after -0,4% in 2011. For last year, the government of Mariano Rajoy had forecast an even more serious drop in GDP, equal to 1,5%.

However, the trend is worsening. Again according to the Bank of Spain, in the fourth quarter GDP contracted by 0,6% on a monthly basis, after -0,3% in the third quarter. Compared to the same period of the previous year, however, GDP fell by 1,7% in the fourth quarter, after -1,6% in the third quarter.

FIRSTonline editorial team

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