The country’s Gross Domestic Product (GDP) registered a fall of 5.2% in the period January to March compared to the previous quarter, the largest in the historical series, which began in 1970.
The data, according to the Quarterly National Accounts for Spain published by the National Institute of Statistics (INE), includes only the first 15 days of the lockdown in March. Nevertheless, construction growth sank by 8.1%, by more than GDP, which worsened the cooling that the sector was already experiencing. Meanwhile, real estate activity registered a decrease of 2.7%.