Spain still shrinking
Spain's economy shrank for the fifth quarter in a row between July and September as the nation struggled to hold off a full-blown bailout. Output shrank 0.4 per cent – similar to the second quarter – with unemployment above 25 per cent and a banking system close to collapse due to bad property loans. The economy is 1.7 per cent smaller than a year ago, says the Bank of Spain.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies