Spanish unemployment rose to a fresh record of 27.2% in Q1 from 26% in the previous quarter and topped consensus of 26.5%, with 6.2M people out of work. Youth unemployment increased to 57.2%. The figures "highlight the serious situation of the Spanish economy as well as the shocking decoupling between the real and the financial economy,". The Ibex was -1.2% at midday in Europe.
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