Spain’s condition worsens

Spain’s economy turns out to be in an even worse state than had been thought.

The National Statistics Institute said gross domestic product was down by 1.9 percent in the first three months of this year compared with the previous quarter as the building bubble burst and unemployment hit record levels . It had originally estimated a fall of 1.8 percent. Year-on-year the Spanish economy shrank three percent.More about: Economy

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