Spain emerges from recession

Spain's economy grew in the first three months of 2010, putting an end to six quarters of recession, the Bank of Spain said Friday.

Izvor: AP

Friday, 07.05.2010.

13:02

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Spain's economy grew in the first three months of 2010, putting an end to six quarters of recession, the Bank of Spain said Friday. Gross domestic product (GDP) rose by 0.1 percent from January to March, the bank said. However, the economy remained 1.3 percent smaller than a year earlier. Spain emerges from recession The bank's assessment is provisional, based on estimates made on "available relevant data" which are due to be confirmed by the Finance Ministry next week. On Tuesday, the Labor Ministry said unemployment fell by 24,188 in April, the first drop in eight months. A total of 4.14 million people were now claiming unemployment benefits, down from 4.17 million at the end of March.

Spain emerges from recession

The bank's assessment is provisional, based on estimates made on "available relevant data" which are due to be confirmed by the Finance Ministry next week.

On Tuesday, the Labor Ministry said unemployment fell by 24,188 in April, the first drop in eight months. A total of 4.14 million people were now claiming unemployment benefits, down from 4.17 million at the end of March.

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