After a revised 7.4% fall in July (26th consecutive monthly fall), but better than expectations of -6.1% (rotfl).
And today Spain will announce a series of economic reforms and a tight 2013 budget on Thursday, aiming to avoid the political humiliation of having Brussels impose conditions on a request for an international bailout.
Reforms intended to win over skeptical investors and control spending are likely to include a new tax oversight body as recommended by Brussels, limitations on early retirement, new taxes on greenhouse emissions and stock transactions and eliminating some tax exemptions.
