How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- USD weekly currency update - 27 March 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
INE confirm Spain back in recession
Spain's Gross Domestic Product (GDP) slipped by 0.3% during Q1 of 2012, continuing with the downward trend of the previous quarter, which also saw a 0.3% fall.
Figures released earlier today in a preliminary report by the National Statistics Institute (INE) confirmed that the Spanish economy is in recession, following two consecutive quarters with negative rates of GDP - the second time in which the economy has officially been in recssion in 3 years.
The official INE data confirmed the government's predictions, but were slightly better than last week's forecast by the Bank of Spain. The central bank expected to see a contraction of the economy of 0.4% and an annual contraction of 0.5%, with a 4.0% increase in unemployment.
The INE explained that the Q1 contraction as being the result of "a more negative contribution of domestic demand, partially offset by a positive contribution of external demand."
The final report giving official data for Q1 of 2012 will be published on May 17th.
Latest News & Stories
- FCO Reveals Ridiculous Expat Requests
- Spain's vehicle production up 10.56% in Feb.
- Orange Spain collects used smartphones for Unicef project
- Low cost airline passengers arriving in Spain up 9.2%
- Rajoy’s Adviser ; "No Election Spending Spree in Spain"
- Investigators rule out mid-air explosion as cause of Alps crash
- Spain to offer passports for Sephardic Jews by May ?
- Spain sees new Bank launched for Expats
- Spain's Telefonica sells O2 UK to Hong Kong
- 2 Dead in Valencia Floods
- Dacion en Pago : Handing Your Property Back to the Bank
- Claiming Unemployment Benefits in Spain
- What is the Euribor ?
- When you can’t pay the Mortgage