Spain’s GPD Continues to Lag
It has been reported that the gross domestic product of Spain had continued to holdup the economic recovery in the euro - zone for the fourth quarter. It was an interesting fact that in spite of the recovery, the rate of the output decline had eased which also prompted the finance minister of the country to announce growth from now.
The GPD of Spain had dropped by a minute 0.1 per cent in the fourth quarter when compared to that of the third quarter. It was also about 3.1 per cent lesser when compared to the gross economic product in the fourth quarter of the previous year. It has been falling by 0.3 per cent for each quarter and also by about 4 per cent each year.
The Spanish economy is actually struggling with the melting of the housing sector. On the contrary, the overall economy in the euro - zone has started growing again in the third quarter. It was also reported that of all the countries in the euro - zone, Spain was the only country that has remained in recession.
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