Spain's unemployment-scarred economy has skidded back into recession, a Bank of Spain report said Tuesday, days before a general strike and a biting austerity budget.
The report confirmed widespread forecasts of a second straight quarterly slump in the first three months of 2012, sending Spain back into recession barely two years after it emerged from the last one.
"The most recent information relating to the beginning of 2012 confirms a continuation of the contraction of activity in the first quarter of this year," the bank said in its March economic bulletin.
For more: Spain slides into recession as strike, new cuts loom
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