Spain's economy expected to contract 1.4% to 2014

 

Spain's economy is expected to contract by 1.4 percent this year and by the same pace next year, with fragile growth seen returning in 2014, new forecasts from the European Commission showed on Wednesday.

The forecasts are roughly in line with those of most private economists, but much worse than the government's prediction for economic output to shrink by 0.5 percent next year.