Spain enters recession for first time in 16 years

[w¡n9Nµ7 §£@¥€r 123]

MADRID, Jan. 28 (Xinhua) -- The Spanish economy is in recession for the first time since 1993 after its gross domestic product (GDP) contracted during the final two quarters of 2008, according to figures released by the Spanish central bank on Wednesday.

The Spanish GDP fell 1.1 percent in the final quarter of 2008, following a 0.2 percent decline in the previous three-month period, the Bank of Spain said.

The traditional definition of recession is two consecutive quarters of negative growth.

http://news.xinhuanet.com/english/2009-01/...nt_10731359.htm

[one...two...tree 2,762]

I'll bet the fascists are saying, "I told you so."

[dalegg 143]

We told you socialism would eventually fail.

[Jasman0717 9]

Welcome to the party

[NickD 203]

Discovery Science had a nice program on Spain last night, worlds largest night club, cathedral, didn't think they were making those anymore, roller coaster ride, million dollar cars. Ha, said to my wife, let's move there if she would only charge me a buck an hour to be my interpreter.

[spookyturtle 9,466]

At least things are looking up.

[Teacher Mark 53]

Thank God! We've finally reached the bottom. AJ has ran out of bad news on the American front, so he's turned his sights to Spain.

Edited January 29, 2009 by Joe Six-Pack

[spookyturtle 9,466]

Thank God! We've finally reached the bottom. AJ has ran out of bad news on the American front, so he's turned his sights to Spain.

But he hasn't even touched Africa or Asia yet.

[Teacher Mark 53]

Thank God! We've finally reached the bottom. AJ has ran out of bad news on the American front, so he's turned his sights to Spain.

But he hasn't even touched Africa or Asia yet.

Spain is en route.

[spookyturtle 9,466]

Thank God! We've finally reached the bottom. AJ has ran out of bad news on the American front, so he's turned his sights to Spain.

But he hasn't even touched Africa or Asia yet.

Spain is en route.

He must be taking the long way.