Spain's recession deepening in Q2: Bank Of Spain
2012-06-27 15:42:13
Spain's recession will intensify in the second quarter, the Bank of Spain said in its monthly bulletin on Wednesday.
The most recent information, referring to the second quarter, suggests that the activity has continued declining at a faster rate, the bank said. Retail sales and car purchases declined at faster rates in the second quarter.
The gross domestic product fell 0.3 percent sequentially in the first quarter, pushing the economy into a recession.
Earlier on May 21, Economy Minister Luis De Guindos said another economic contraction in the second quarter is possible.