Spain’s Gross Domestic Product (GDP) fell 5.2% in the first quarter of 2020 as a result of coronavirus confinement measures, according to an advance report released by the National Statistics Institute (INE) on Thursday. This is the largest quarterly drop in nearly a century. The last time such a figure was seen was after the Spanish Civil War (1936-1939), based on the estimates of specialist historians.
The biggest quarterly drop in recent times occurred in 2009, during the recession, when the Spanish economy fell 2.6% between January and March. The GDP is the best indicator to measure production in the country, and in turn, its wealth.