Spain suffers sharpest fall in GDP on record

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The Independent Online

Spain's economy performed worse than expected in the second quarter, in contrast to the surprising growth seen in France and Germany.

Gross domestic product shrank by 1 per cent in the three months to June compared with the previous quarter, and was down 4.1 per cent year-on year, said the National Statistics Institute. It was the worst year-on-year performance in any quarter since comparative figures were first kept in 1977.