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.
Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by lesley.woutersen@economicinform.com.
