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January 31, 2014

Growth of the Spanish economy in 2013

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Growth of the Spanish economy in 2013

Spain's economy grew 0.3 % in the fourth quarter of 2013 , although the overall result for 2013 remains negative, namely the growth of the Spanish economy was negative – 1.2%. The first signs of recovery of the Spanish economy are starting to get their confirmation and statistical basis. For example, this week was published the optimistic official data on the country's economic development over the past 2013.

Thus, Spain boosted the planned pace of recovery of its economy, as in the third quarter of 2013 the economic growth in the country was only by 0.1%. These data provide no doubt that Spain came out of technical recession and sent all his strength on early and sure way out of economic crisis. Such data are provided both by the Ministry of Economy of the country and by the National Institute of Statistics. The central Bank of Spain also released data coinciding with the National Institute of Statistics.

According to the Minister of Economy of Spain such a result is “positive and encouraging sign, but require further work and strengthening”.

Despite a fairly optimistic picture of economic reality in Spain in the last quarter of 2013, the overall result for the entire 2013 nevertheless became negative. This is explained in more noticeable decline in national demand and consumption, at the same time compensable by higher foreign demand, but not in sufficient form. At the same time the evolution of the national demand every time is less negative, as noted by official sources. What is also optimistic and encouraging factor.

Obtained a negative result in -1.3% for 2013 is differ only in one-tenth from those predicted by the Spanish Government in the beginning of the year.

According to sources in the Central Bank of Spain, the output of a technical recession in the second half of 2013 has been made possible thanks to alleviate pressure on the financial markets , progressive improvement of funding received from abroad, increase confidence and improve the labor market situation in Spain.

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