Spain economy shrinks 0.5pc in first quarter 2013

Published April 30, 2013 Updated April 30, 2013 07:21am

1 min

By Parvez Jabri

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MADRID: Spain's economy shrank 0.5 percent in the first quarter of 2013, official data showed Tuesday, as a job-killing recession gripped the country.

Spanish gross domestic product dipped by 0.8 percent in the previous quarter and has been contracting since mid-2011, pushing the unemployment rate above 27 percent.

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