Spain has lost less GDP in Q2 than initially thought

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The Spanish economy shrank slightly less in the second quarter than previously expected. This was apparent from the final figures of the National Statistical Office. The country was severely affected by the coronacris during the measurement period and took heavy measures to contain the spread of the coronavirus.

The economy shrank by 21.5% on an annual basis in the measurement period, where it was previously assumed that there would be a drop of 22.1%. Public expenditure was a little heavy, but consumers spent almost a fifth less than a year earlier. Imports and exports also plummeted. Compared to the first quarter, the decline was 17.8 percent. Here, a minus of 18.5 percent was reported earlier.

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Leah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to [email protected]

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