The euro region’s fourth-biggest economy grew 0.4 percent last year, less than the 0.7 percent originally reported, INE said in a statement posted on its website. The economy contracted 0.3 percent in 2010, more than the 0.1 percent initially stated, the statistics agency said in the statement.
“We have decided not to modify our estimate” of second- quarter economic performance, said Tomas Garcia, a Madrid-based analyst at Cortal Consors, which forecasts a 0.4 percent contraction.
“Logically it may improve to 0.2 or 0.3 percent, but we won’t take the improvement into account because it will be a purely statistical effect.”
Gross domestic product figures for 2008 and 2009, which were included in the review, were not revised, INE said. Here are the revised numbers:
Revised GDP Original GDP Reported 2011 0.4% 0.7% 2010 -0.3% -0.1% 2009 -3.7% -3.7% 2008 0.9% 0.9%
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