"The central bank said early indicators show that Spanish tourism, exports, spending and investment have been hit, which is likely to have led to a contraction in GDP in the fourth quarter.
In its December bulletin the bank said: "After the stagnation the Spanish economy showed in the third quarter, the available economic information, still incomplete, indicates activity contracted in the final months of the year."
Spain, which has the eurozone's third-biggest budget deficit, is already struggling under tough austerity measures and the highest unemployment rate for 15 years."
No comments:
Post a Comment