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Spain is out of recession

October 30, 2013

The Spanish economy in recession for two years is technically out in the third quarter with a growth of 0.1%, said Wednesday the central bank.

This increase in gross domestic product (GDP) comes "after nine consecutive quarters of decline," according to the Bank of Spain which  official data that should be  issued October 30 will confirm this.

the return of Spain to the positive situation "comes after good news from Greece, Ireland and Portugal, which resumed growth in the second quarter" by 0.6%, 1.1% and 0.4 % respectively, according to an analyst who predicted the release in Italy in recession in the fourth quarter at the latest, or even at the third.

Despite that the Spanish central bank noted that the "progress" in the euro area "will be enhanced gradually," it warned that it would be small, fragile and likely to deteriorate again.




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