Spain Remains In Recession In Q2 But Only Just
MADRID (AP) â¿¿ Spain remains in recession but only just.
The country's National Statistics Institute says the Spanish economy contracted in the second quarter by a quarterly rate of 0.1 percent as a result of weak domestic consumer demand. That offset a solid export performance.
That was Spain's eighth straight quarterly fall. The contraction was better than the 0.5 percent fall recorded in the first three months of 2013.
Spain has been in recession for most of the past four years following the collapse of its real estate sector in 2008. Despite 26.3 percent unemployment and a bloated deficit, the government claims its reforms and austerity measures are paying off. It predicts the economy could start growing again in the third quarter.On a year-on-year basis, Spain's economy was 1.7 percent smaller.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV