(Ahlul Bayt News Agency) - The Thursday figures released by the National Statistics Institute (INE) confirm preliminary data issued in April, underscoring the precarious state of the eurozone's fourth biggest economy, which is battling a record high 24.4 percent unemployment rate.
The fall has been blamed on weak domestic demand, including household consumption and public spending which have undermined growth in the country.
Spain slides back into recession as it struggles with austerity measures aimed at cleaning up its finances.
Meanwhile, Spanish Prime Minister Mariano Rajoy warned on Wednesday that his country faces trouble financing itself as its borrowing costs have increased.
"The risk premium has gone up a lot, and that means it is very difficult to get financing and it is very difficult to do so at a reasonable price," Rajoy told lawmakers in a weekly parliamentary debate.
Spain has announced spending cuts of more than 11 billion dollars as well as tax increases to reduce the country's deficit to avoid seeking a financial bailout like Greece, Ireland and Portugal.
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