Tags: Spain | 2010 | Economic | Decline | Smaller | Expected

Spain's 2010 Economic Decline Smaller Than Expected

Friday, 11 Feb 2011 07:34 AM

Spain's National Statistics Institute has confirmed preliminary estimates that the economy grew 0.2 percent in the fourth quarter compared with the third, and contracted 0.1 percent for all of 2010 — welcome figures for a country struggling in the wake of a sharp recession.

The Institute said Friday that fourth-quarter gross domestic product grew 0.6 percent compared with the final quarter of 2009.

The 0.1 percent decline for the full year 2010 was less than the 0.3 percent forecast by the government.

The figures coincide with preliminary ones released recently by the Bank of Spain.

Spain is recovering from nearly two years of recession triggered mainly by the collapse of a real estate bubble. It posted modest growth in the first two quarters and was flat in the third.

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Spain's National Statistics Institute has confirmed preliminary estimates that the economy grew 0.2 percent in the fourth quarter compared with the third, and contracted 0.1 percent for all of 2010 welcome figures for a country struggling in the wake of a sharp...
Spain,2010,Economic,Decline,Smaller,Expected
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2011-34-11
Friday, 11 Feb 2011 07:34 AM
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