Yup, it’s a recession all right
Spain is officially in a recession after the latest economic data shows that the economy contracted 0.4% last quarter, the second quarter in a row. Which is the official definition of a recession. And the government is expecting a further contraction of 0.5% for this quarter. All this, ontop of the unemployment – now 24% of the active population – after another 290,000 people lost their jobs in the first three months of the year. Continue reading Yup, it’s a recession all right