Spanish GDP falls 0.3% in final quarter of 2011

MADRID (MarketWatch)
Spanish gross domestic product fell 0.3% in the final quarter of 2011, the national statistics agency said on Monday, in a first estimate of the data
The statistics agency said growth fell owing to weak domestic demand, partially compensated by a rise in foreign demand
The figure matches a prediction from the Bank of Spain released last week
This is the first fall in GDP since the fourth quarter of 2009
On an annual basis, GDP rose 0.3% against the same period in the prior year
 The Bank of Spain recently forecast Spanish GDP would contract 1.5% in 2012 and then see a "modest recouperation" of growth in 2013 of 0.2%