News Headline Summary

EU predicts Spain's GDP will fall 1.6% in 2012 vs. a 1.5% drop on Govt estimates, according to a draft document

According to a draft document obtained by El Pais:

- EU sees Spanish GDP in 2013 falling 1.5% compared with a fall of 0.5% in Govt estimates
- EU sees Spain's budget deficit at 8% in 2012 and 6% in 2013 compared with Govt estimate of 7.3% and 4.5% respectively

Update details:

The EU are due to release their full report and forecasts tomorrow.

Print 07:02, 06 Nov 2012 - Economic commentary - Source: El Pais