Spain economy shrinks 0.1% in 2010

11th February 2011, Comments 0 comments

Spain's economy shrank 0.1 percent in 2010 as the government slashed spending to avoid a European debt crisis that brought Greece and Ireland to their knees, provisional data showed Friday.

In the fourth quarter of the year alone, gross domestic product edged up 0.2 percent, partially offsetting a contraction in the first half the year, the National Statistics Institute said in a report.

© 2011 AFP

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