Spanish GDP Shrinks

valencia spain

Photo: Flickr/untipografico

Spanish GDP shrinks, but a bit less than expected.From Bloomberg:

Gross domestic product shrank 0.4 per cent from the previous three months, matching the contraction of the second quarter, the Bank of Spain said in an estimate in its monthly bulletin released in Madrid today. That compares with a median forecast for a 0.7 per cent contraction in a Bloomberg News survey of 10 economists.

Spain’s IBEX is down about 0.7%, getting caught in the general downdraft.

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