Spain’s Recession Eases as Rajoy Prepares Growth Plan
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Spain’s recession eased in the first quarter as Prime Minister Mariano Rajoy prepares plans to foster growth while reducing the country’s budget deficit.
Gross domestic product fell 0.5 percent from the fourth quarter, when it dropped 0.8 percent, the most since 2009, the Bank of Spain said in its monthly bulletin today. That’s the seventh quarterly contraction. Today’s data is in line with the median of 15 economist estimates in a Bloomberg News survey.