6/8/2020, 1:43 PM (Source: TeleTrader)
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Chart for: IBEX 35.

Bank of Spain: GDP may drop up to 21.8% in Q2

Bank of Spain said on Monday it expects the country's GDP to plunge between 16% to 21.8% in the second quarter as a result of the coronavirus pandemic.

The central bank added that the Spanish economy is set to begin recovering in the second half and that the economy will shrink between 9% and 11.6% in the whole year 2020.

The latest forecast marks an improvement from the previous prediction that Spain's economy will contract between 9.5% and 12.4% this year.

Breaking the News / NP