Spain May Return To Economic Recession

 

Spain's EL Mundo Newspaper has reported how the country may be heading towards an economic recession as the ISA, Spain's leading synthetic activity index - an indicator that forecasts the evolution of the country's economy in coming months - is showing an expected 0.1% decline over the third quarter of the year.

This figure would represent be first decline in the ISA over the last two years, the paper adds.

The country's GDP increased by 0.2% in the second quarter of 2011 and by 0.4% in the first quarter of the year.

The ISA had shown a 0.5% increase in the first quarter of 2011 and zero growth in the second quarter, according to El Mundo.