Spain confirms timid economic recovery

Spain's timid economic recovery stalled in the third quarter amid tough austerity measures, official data showed on Wednesday.Gross domestic product showed zero growth in the three months to September 30 from output in the previous quarter, the National Statistics Institute (INE) said in releasing definitive figures.On a 12-month comparison, Spanish gross domestic product expanded by 0.2 percent after seven months running of declines by this long-term measure.

Spain's timid economic recovery stalled in the third quarter amid tough austerity measures, official data showed on Wednesday.Gross domestic product showed zero growth in the three months to September 30 from output in the previous quarter, the National Statistics Institute (INE) said in releasing definitive figures.On a 12-month comparison, Spanish gross domestic product expanded by 0.2 percent after seven months running of declines by this long-term measure.

Spain's fledging economic recovery stalled in the third quarter, when gross domestic product was unchanged from the previous three months as government austerity measures began to bite, official data showed Thursday.It followed growth of 0.2 percent in the second quarter and 0.1 percent in the first, when Spain emerged from one of its worst recessions in decades.On the year, gross domestic product expanded 0.2 percent after seven straight months of declines, the National Statistics Institute (INE) said in its preliminary estimate.

Inquiring minds investigating the collapse in Europe note Euro-Zone Industrial Production Declines Steeply Industrial production in the 17 countries that use the euro fell sharply in September as weak output across both the core and peripheral economies added to expectations for a poor third quarter gross domestic product print Thursday.

LONDON (Reuters) - Britain's economy shrank more than expected in the last three months of 2012, coming closer to its third recession in four years, after lower output from the North Sea and manufacturers.

From Reuters: The country's gross domestic product fell 0.3 percent in the fourth quarter, the Office for National Statistics said on Friday, sharper than a 0.1 percent decline forecast by analysts. The news is a blow for Britain's Conservative-led government, which a day earlier defended its austerity program against criticism from the International Monetary Fund.

Reuters reports Eurozone Unemployment Reaches Near 15-Year High Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, and economists said they expected job office queues to grow even longer later this year.

For a country that laments the imposition of draconian "austerity" measures, now allegedly in their third year, which have so far seen government revenues slide, while spending rises, Spain sure has a problem with figuring out how it is supposed to work.