Spanish GDP grows for second straight quarter

The Spanish economy saw further signs of growth in the final quarter of last year although GDP decreased over 2013 as a whole.

The Spanish economy has shown signs of making progress recently having left its bail-out programme back in November 2013.

PMI data from Spain moved back into expansionary territory at the end of last year, while the IMF recently boosted its forecast for Spanish GDP to 0.6 per cent for 2014.

The latest GDP statistics by the National Statistics Institute in Spain now reveal that the Spanish economy expanded by 0.3 per cent between October and December 2013, compared with the previous quarter.

This latest figure marks the second straight quarter of GDP growth seen since in 2011.

However overall in 2013 economic growth in Spain actually decreased by 1.2 per cent, compared to the previous year when the economy shrank by 1.6 per cent.