Slight growth in the economy seen over last quarter

 

The country's hard-hit economy showed slight signs of improvement today, with the Bank of Spain announcing a 0.2% growth over the first quarter of the year.

"In the opening months of 2011, the Spanish economy continued growing at a weak rate against the background of the progressive recovery in the world economy, but one not free from the emergence of fresh causes for uncertainty," it said.

"The estimates made drawing on the conjunctural information available suggest that GDP posted a quarter-on-quarter increase of 0.2 percent in the first quarter of 2011, unchanged on the previous quarter."

The figures compare favourably to the previous quarter, where the economy had shown a 0.1% contraction.