Spanish gross domestic product contracted 0.4% in the second quarter

MADRID (MarketWatch)
Spanish gross domestic product contracted 0.4% in the second quarter, versus the prior quarter, according to preliminary estimates released by the national statistics office Monday
On an annual basis, GDP contracted 1%
Both figures matched figures released from the Bank of Spain released a week ago
The International Monetary Fund said Friday that the economic outlook for the country "remains very difficult and vulnerable to significant downside risks."
Fears that the country may need a full bailout pressured Spanish bonds in recent weeks, sending yields soaring
Yields retreated late last week, however, on speculation the European Central Bank could take action aimed at bringing down borrowing costs