Contraction of Spanish GDP slows to 0.1% in second quarter

29/08/2013. According to the results contained in the Quarterly National Accounts (Spanish acronym: CNTR) published by the National Statistics Institute (Spanish acronym: INE), GDP in volume – adjusted for seasonal and calendar effects – posted a quarter-on-quarter rate of -0.1% in the second quarter. This decline is 0.3% lower than the rate posted in the first quarter of the year. In year-on-year terms, Spanish GDP shrank by 1.6% – 0.4% less than in the previous quarter. Meanwhile. quarter-on-quarter growth in the Eurozone stands at 0.3%.