INE confirms growth in Spain for Q4

 

Spain's National Statistics Institute (INE) has today released data that confirms preliminary estimate released a few weeks ago, showing how the economy grew by 0.2% in Q4 compared to Q3, and contracted 0.1% overall during 2010. The 0.1% decrease for the whole of 2010 was below the 0.3% forecast by the government.

The INE also announced that Q4 GDP increased 0.6% compared with Q4 of 2009.

These statistics coincide with preliminary ones released recently by the Bank of Spain, and show how the country is beginning to recover from almost 2years of recession brought about by a collapse of the property market and the effects of the global recession. It posted modest growth in the first two quarters and was flat in the third.