Bloomberg News

Spain Has Negative Savings Rate for First Time Since 2000

July 04, 2012

Spain in the first quarter registered its first negative savings rate since the series began in 2000, the National Statistics Institute said.

The rate declined 3.3 percentage points from a year earlier to minus 0.6 percent of disposable income, Madrid-based INE said on its website.

The rate was a positive 10.8 percent over the last four quarters, compared with 11.5 percent in the same period a year earlier, INE said yesterday.

To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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