Spain's recession deeper than initially stated in 2012: official data

Tue Aug 27, 2013 5:34am EDT
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MADRID (Reuters) - Spain's economy shrank 1.6 percent in 2012, versus the 1.4 percent contraction previously recorded, according to revised historical gross domestic product data from the country's National Statistics Institute (INE) released on Tuesday.

The changes will affect comparisons to 2012 on a quarterly basis, INE said, and in particular comparisons with the second quarter of 2013. That data is due on August 29.

The GDP figures for 2011, 2010 and 2009 were also revised, though only the 2009 revision is definitive. Spain's economy grew only 0.1 percent in 2011 compared to the 0.4 percent previously stated, INE said.

(Reporting by Sarah White, Editing by Julien Toyer)

Dogs wait for their owner as people enter a government-run employment office in Madrid August 2, 2013. REUTERS/Susana Vera