Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 30, 2013 10:49:20

Spain - 4Q GDP fell more than expected. Retail in December fell by 10.7%


Spanish recession in Q4 of last year deepened more than expected. Q4 GDP fell by 0.7% compared to a decline of 0.3% in 3Q. While the market for the final quarter of last year, counted with the deepening decline to -0.6%.

Spanish central bank said last week that it expected to decline in Q4 GDP down by 1.8% respectively for the year 2012 by 1.37%. Market estimates for this year are around a decline of 2%. IMF estimates of GDP for this year, a decrease of 1.5%

According to the comments the Spanish economy recession deepens primarily due to the negative impact of budget cuts on domestic demand. According to the Central Bank in 2012 fell by as much as 3.9%, which is roughly twice the level of 2011.


According to other statistics, the Spanish retail in December fell by 10.7%. The volume of mortgage loans in November fell by 32%, which was double the October decline. The proportion of bad bank loans in the total portfolio liabilities rose in November to 11.4%.
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Španělsko - HDP ve 4Q poklesl více, než se čekalo. Maloobchod v prosinci propadl o 10,7%

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