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Tuesday, April 30, 2013

UPDATE 2-Spain's economy shrinks for seventh straight quarter | Reuters

UPDATE 2-Spain's economy shrinks for seventh straight quarter
| Reuters


Spain fell deeper into recession in the first three months of the year, the seventh straight quarter it has seen its economy shrink, data showed on Tuesday.
Rising exports and weaker imports, reported separately, provided some relief by cutting the trade deficit.
The data showing further contraction will add to a Europe-wide debate about whether countries should tone down austerity programmes intended to cut debt in favour of more growth-focussed policies, particularly given concern about rising unemployment.
Euro zone member Spain's jobless rate is 27.2 percent.

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