Spanish economic growth near zero percent in second quarter: central bank

0 Comments | AFP, July, 2008

MADRID (AFP) — Spain's economy, the eurozone's fourth largest, expanded by just 0.1 percent in the second quarter from the previous three months, the Bank of Spain estimated Wednesday.

The economy grew by 1.8 percent in the second quarter when compared to the same time last year, it added.

During the first three months of the year the Spanish economy expanded by 2.7 percent on a yearly basis and by 0.3 percent on a quarterly basis.

"Economic indicators in the second quarter of 2008 show a more pronounced adjustment, which is especially intense in terms of household consumption and employment as financial turbulance and rising oil prices raise uncertainties over the evolution of the economy," the bank said in its latest bulletin.

Last week the...