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Spain economy shrinks 0.5% in first quarter 2013

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(Globalpost/GlobalPost)

Spain's economy shrank 0.5 percent in the first quarter of 2013, official data showed Tuesday, as a job-killing recession gripped the country.

Spanish gross domestic product dipped by 0.8 percent in the previous quarter and has been contracting since mid-2011, pushing the unemployment rate above 27 percent.

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http://www.globalpost.com/dispatch/news/afp/130430/spain-economy-shrinks-05-first-quarter-2013