Bank of Spain forecasts economy will contract -1.5% in 2012; Bank of France governor says France’s economy will accelerate in the spring
Jan 23rd, 2012 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Bank of Spain today forecast that the Spanish economy’s output in 2012 will contract -1.5% and a modest recovery in 2013 (0.2%), with positive rates from the first quarter of next year, meaning that the Spanish economy would progressively draw closer to its potential growth rate. Meanwhile, Christian Noyer, governor of the Bank of France, said Monday that France's economy will accelerate in the spring after stagnating since the last quarter of 2011 and at the beginning of this year.