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Spain's recession deeper than initially stated in 2012 -official data
August 27, 2013 / 9:22 AM / 4 years ago

Spain's recession deeper than initially stated in 2012 -official data

MADRID, Aug 27 (Reuters) - Spain’s economy shrank 1.6 percent in 2012, versus the 1.4 percent contraction previously recorded, according to revised historical gross domestic product data from the country’s National Statistics Institute (INE) released on Tuesday.

The changes will affect comparisons to 2012 on a quarterly basis, INE said, and in particular comparisons with the second quarter of 2013. That data is due on Aug. 29.

The GDP figures for 2011, 2010 and 2009 were also revised, though only the 2009 revision is definitive. Spain’s economy grew only 0.1 percent in 2011 compared to the 0.4 percent previously stated, INE said.

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