Thursday, 11 February 2010
BBC News
The Spanish economy shrank by 0.1% in the last three months of 2009, making it the last major economy still in recession.
Some 44.5% of under 25s are unemployed in Spain
INE, the national statistics agency, also said the country's gross domestic product had contracted by 3.1% compared with the same period a year before.
Europe's fifth-largest economy has the highest rate of unemployment in the eurozone, hitting 19.5% in December. For 2009 as a whole, INE said the Spanish economy contracted by 3.6%.
"Unemployment is the greatest problem for the Spanish economy," said Professor Juan Jose Toribio, who is dean of the IESE Business School in Madrid.
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