Spanish third quarter economy is expected to continue to plunge - hpc

hpc

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Spanish central bank said on Wednesday (26th), in the of high tension financial situation, the third quarter gross domestic product (GDP) continued “Plummet ".
Spanish Economy Minister Dejinduosi, last Saturday (22th) said, he expects the third quarter of this year, Spain's economy will shrink again by about 0.4%, consistent with the second quarter of economic contraction.
Spain in the second quarter the economy shrank 0.4%, as for the previous two quarters are shrinking by 0.3%, the unemployment rate climbed to a high point of 24.6%.
Spanish government forecast the economy will shrink by 1.5% this year, next year is a 0.5% contraction. Nevertheless, the outsiders still think that the official forecast is probably too optimistic.
 
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