Spain Recession Eases as Unemployment Drops From Record Level
This article is for subscribers only.
Spain’s recession eased in the second quarter, pushing unemployment down from its highest level in the country’s democratic history and lending support to the government’s prediction of an economic recovery in the second half of the year.
Gross domestic product fell 0.1 percent from the first quarter, when it declined 0.5 percent, the Madrid-based National Statistics Institute said today. That matched the Bank of Spain’s estimate on July 23. Inflation in July was 1.8 percent, INE said in a separate release.