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- Liva & Laia : 15th November
Spanish economic contraction last year was worse than previously thought, according to revised figures published today by the National Statistics Institute (INE).
Gross domestic product fell by 3.7% over the course of last year, faster than the 3.6% contraction estimated earlier, the agency reported.
Initial figures released on August 13 stated that the Spanish economy expanded 0.2% in the June quarter after growing 0.1% in the first three months of the year.
The International Monetary Fund expects the Spanish economy to contract 0.4% over the course of this year before expanding 0.6% in 2011.
