Statistics office confirms Spain back in recession | Financial Headlines | Comcast
Spain confirmed Monday it was officially back in recession as the country's economy shrank 0.3 percent in the first quarter compared to the previous three months.
This is Spain's second recession in three years. The contraction follows a similar decline in the final quarter of last year. Two consecutive quarters of economic contraction constitute a technical recession
Spain is struggling after the collapse in 2008 of a property bubble that had fueled nearly a decade of solid growth. It now has 24.4 percent unemployment and a deficit of 8.5 percent as of the end of 2011, which it must reduce to 3 percent in 2013.
We will follow in Spains footsteps as soon as Obama care kicks in.....

Spain confirmed Monday it was officially back in recession as the country's economy shrank 0.3 percent in the first quarter compared to the previous three months.
This is Spain's second recession in three years. The contraction follows a similar decline in the final quarter of last year. Two consecutive quarters of economic contraction constitute a technical recession
Spain is struggling after the collapse in 2008 of a property bubble that had fueled nearly a decade of solid growth. It now has 24.4 percent unemployment and a deficit of 8.5 percent as of the end of 2011, which it must reduce to 3 percent in 2013.
We will follow in Spains footsteps as soon as Obama care kicks in.....
