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Economics & Business News

Spain's economy growing

Spain's economy grew by 0.9 per cent in the first quarter compared to the previous three-month period, its strongest rate since before the 2007-08 economic crisis.

It was Spain's seventh consecutive quarterly growth figure, according to the country's National Statistics Institute on Thursday.

Spain was hit hard by the global financial crisis and only emerged from a double-dip recession at the end of 2013.
The government predicts the economy will expand 2.9 per cent this year and by the same rate in 2016.

However, the country still has a staggering 23.8 per cent unemployment rate. It is more than double that for people under age 25.

Spain's economy growing