The pace of contraction in the Spanish economy has eased in the fourth quarter, the Bank of Spain said Friday, suggesting that gradual improvement is taking place in the economy.
"The most recent economic indicators are in line with a continued slowdown in the rate of economic contraction," the central bank said in its monthly report. The pace of decline in the private consumption and construction sector eased, it added.
In the third quarter, Spanish gross domestic product dropped 0.3% sequentially. The economy continue to remain mired in recession while other major Eurozone economies have started to grow.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.