Investing.com - Spain’s economic recovery accelerated in the fourth quarter according to data released by the country''s statistics institute INE on Thursday, with the economy posting its second successive quarterly expansion after a two-year long recession.
Spain''s GDP rose 0.3% in the fourth quarter INE said, in its preliminary GDP estimate for the quarter. The figure was in line with analysts’ forecasts and matched the Bank of Spain’s January 23 estimate.
GDP contracted 0.1% in the fourth quarter from the same period of 2012 the statistics institute said.
Spain’s economy posted growth of 0.1% growth in the third quarter, and a 1.1% contraction in the third quarter from the same quarter a year earlier.
For the whole of 2013 Spain’s economy, the fourth largest in the euro zone, contracted 1.2% after contracting 1.6% in 2012.