Agencia EFEApril 30, 2013 09:26
Madrid, Apr 30 (EFE).- Spain's economy contracted 0.50 percent in the first quarter of this year, or three-tenths of a percent less than in the final quarter of 2012, the National Statistics Institute, or INE, said Tuesday.
The gross domestic product contracted 2 percent in year-on-year terms in the January-March period, or one-tenth of a percent more than in the prior quarter.
Spain's economy has now contracted for seven consecutive quarters, the INE said.
GDP began falling in the third quarter of 2011 after staging a recovery that quickly stalled.