Spain's GDP shank by 0.3% in Q1 on austerity measures

Note: This section contains information in English only.
Source: Marketwatch
Spanish GDP contracted by 0.3% in Q1 from Q4 as austerity measures impacted public and private spending in the country. Considering yearly changes, the GDP contracted by 0.4% in Q1, reported the National Statistics Institute. Moreover, exports weakened, rising at modest pace of 2.2% in Q1 after posting strong growth for several quarters.


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