BBC: Spain has seen its first quarterly economic growth since 2011, according to data from the country's National Statistics agency INE.
The country's GDP grew 0.1% in the July-to-September period, after contracting for the previous nine quarters. Its growth confirmed last week's estimates from the Bank of Spain. Spain was one of the countries worst hit by the global economic crisis, with street riots and soaring unemployment. The statistics mean Spain is officially out of recession.
The INE said an increasing number of exports supported the growth, with a boost to the tourist industry from holidaymakers avoiding northern Africa and the Middle East. Ben May, economist at Capital Economics, said the growth was encouraging and cited business surveys that suggested there "may be more to come in the near term".... Spain's economy has been ailing since its property bubble burst in 2008.
RECESSIONS END WHEN NATIONS GET OFF THE ROAD TO SERFDOM, AKA: STOP THEIR SOCIALIST PONZI SCHEMES AND REDUCE BUREAUCRATIC REGULATIONS, AND LET PRIVATE ENTERPRISE GROW.
No comments:
Post a Comment