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Economy of Spain shrinks 0.6 pct in Q4 2012

Source: Reuters - Wed 23rd Jan 2013
Economy of Spain shrinks 0.6 pct in Q4 2012

The Bank of Spain said on Wednesday it saw Spanish gross domestic product (GDP) shrink 0.6% in Q4 from a quarter earlier, compared to a contraction of 0.3% between July and September.

The economy contracted 1.7% in Q4 compared to a year earlier, the central bank said after falling 1.6% year-on-year in Q3.

The Spanish economy shrank 1.3% in 2012 year-on-year after growing 0.4% a year earlier, the Bank of Spain said in its monthly economic report.

Official preliminary GDP data will be published by the National Statistics Institute (INE) on Jan. 30.

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