Spanish Economy Contracts More Than Initially Estimated

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The Spanish economy contracted 1.1% sequentially in the second quarter, larger than the initial estimate of 1% decline, a revised report from the National Statistics Institute showed Thursday. On an annual basis, gross domestic product dropped 4.2% compared to prior quarter's 3.2% decline.

The statistical office revised the annual decline for the second quarter from 4.1% estimated initially.

The Spanish economy contracted 1.1% sequentially in the second quarter, larger than the initial estimate of 1% decline, a revised report from the National Statistics Institute showed Thursday. (Market News Provided by RTTNews)