Spanish central bank says economy shrank 0.5 per cent in Q1 for 7th quarterly contraction

Canadian Press, The Canadian Press
0 Comments| April 23, 2013

MADRID - Spain's central bank says the recession continued in the first three months of the year, with the economy shrinking by 0.5 per cent, its seventh quarterly contraction.

The bank said Tuesday that the drop was somewhat milder than the 0.8 per cent contraction in the final quarter of 2012. Compared with a year earlier, the economy was 2 per cent smaller in the first quarter.

© The Canadian Press, 2013

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