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More economic pain in Spain
SPAIN plunged further into recession as official data yesterday showed industrial output dropped sharply in the year to March, while a new study showed EU workers’ productivity falling, particularly in the crisis-hit peripheral economies.
Industrial output fell 10.4 per cent in the year, official statistics agency INE revealed, following falls of 3.2 per cent in the year to February and 2.6 per cent in the year to January.
Meanwhile Markit’s productivity index saw output per worker falling across the EU in April, indicating poor growth prospects.