The Spanish economy closed for the sixth consecutive quarter in recession, and at the worst rate since mid-2009. According to the final data of the national statistical institute, between October and December 2012 Spain's GDP fell by 0,8% compared to the previous quarter e 1,9% every year. In the whole of 2012 the contraction was 1,4% against +0,4% in 2011.
As for Spain's public deficit, “it decreased in 2012, reaching 6,7% of the gross domestic product – the head of the Spanish government, Mariano Rajoy, announced yesterday in the Madrid Parliament -. The percentage has finally dropped, even though the target negotiated with the European Commission was 6,3%. This milestone is the result of a great effort by the whole of Spanish society. Spain will now undoubtedly be judged with greater confidence."
