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Spain confirms recession a day after strike

AFP
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Spain confirms recession

Spain’s announced on Thursday it has moved into a second year of a job-killing recession, a day after millions joined anti-austerity strikes and vast protests. Spain’s gross domestic product shrank by 0.3 percent in the quarter, National Statistics Institute data showed, meaning the eurozone’s third-largest economy has been shrinking for 15 months. Miserable economic activity has left Spain with an unemployment rate of 25 percent, topped only in the eurozone by Greece with a jobless ratio of 25.1 percent, the highest in the industrialized world.AFP


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