1 in 4 out of work in Spain as economy contracts in 4th Q 2011

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2/16/12, "Spain's economy contracts as recession fears grow," BBC

"The Spanish economy has shrunk for the first time in two years, increasing fears the country could be heading for a recession.

The country's economy shrank by 0.3% in the three months to December, after stagnating in the previous quarter.

Household spending fell by 1.1% from the previous quarter, while spending by public bodies dropped by 3.6%.

The country has the highest jobless rate in the EU, with almost one in four people out of work."...

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