Source Pravda.Ru

Spanish Economy Contracts Sharply

The Spanish economy contracted sharply in the second quarter, official data showed Friday, confirming that a nascent recovery in Germany and France has yet to percolate throughout the euro area.

Gross domestic product declined 1 percent from the previous quarter, when it shrank 1.9 percent, the Madrid-based National Statistics Institute said in a preliminary estimate. From a year earlier, G.D.P. contracted 4.1 percent , New York Times reports.

"This was a bit disappointing and worse than we expected, since a number of indicators had improved in Spain over the last few months," said Dominic Bryant at BNP Paribas. "We do expect Spain to do worse than other European countries for a few years. Germany and France don't have the same imbalances as Spain, which means we expect it to stay weaker for longer." , reports.

Gross domestic product dropped 1 percent quarter-on-quarter, slightly more than a Bank of Spain forecast of 0.9 percent, and contracted 4.1 percent year-on-year, the sharpest fall since comparative data began in 1977 , reports.

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The United States' Head of Diplomacy, or Secretary of State, is an anachronistic, incompetent, meddling, intrusive, insolent and arrogant, rude individual, a brash, foul-mouthed upstart, a conceited, self-important guttersnipe and an insult to the international community, as fit for the job as a pedophile janitor in a grade school.

Tillerson must go!