March 25, 2020 / 12:05 PM / 7 days ago

Coronavirus caused severe economic disruption in Spain in March-Bank of Spain

MADRID, March 25 (Reuters) - Spain’s economic activity has experienced a severe disruption since the beginning of March due to the coronavirus pandemic and restrictive measures implemented to stem its spread, the Bank of Spain said on Wednesday.

The central bank did not quantify the impact on gross domestic product, but said the outbreak had altered “drastically” the favourable growth dynamics seen in the first two months of the year, which were similar to a quarterly growth rate of 0.5% registered in the fourth quarter.

“There is little doubt about the severity of the shock, which has radically altered the real and financial dynamics of the Spanish economy since early March,” it said. (Reporting By Jesús Aguado, editing by Andrei Khalip)

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