Spanish recession deepens

03/07/09 19:51 CET

economy

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May industrial output figures for Spain look grim, with a deeper-than-forecast 20.5 percent drop year on year. It is the 13th straight month of decline in Spain’s factories and mines, and contradicts data last month suggesting a slight recovery in the services sector and rising confidence. Only seasonal factors have held off a fresh rise in unemployment.

More about: Economy, Spain

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