Spanish economy shrinks in fourth quarter

30 Jan 2012, 7:23 pm   -   Source: AAP
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The Spanish economy shrank by 0.3 per cent in the final quarter of last year compared with the previous three months.

The Spanish economy shrank by 0.3 per cent in the final quarter of last year compared with the previous three months, provisional data showed on Monday.

It stagnated in the third quarter.

The economy grew by 0.7 per cent over 2011 as a whole, the national statistics institute said, adding to the year's bleak figures which included an unemployment rate of of 22.85 per cent.

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