Spain eyeing recovery, posts fastest rate of economic growth since 2007
July 31, 2014, 12:00 am TWN
MADRID--Spain's economy grew by a better-than-expected 0.6 percent in the second quarter compared with the previous three months, the fastest rate since 2007 and more evidence of the country's recovery from recession.
In provisional estimates released Wednesday, the National Statistics Institute says the economy grew by 1.2 percent over 12 months, following four consecutive quarters of expansion.
The April-June growth figure was better than the 0.5 percent rate predicted by the Bank of Spain this month.
It is Spain's best quarterly growth figure since the final three-month period of 2007, when the economy grew by 0.7 percent.