The
National Statistics Institute (INE) confirmed on Wednesday the announcement
last week by the Bank of Spain that the recession is over, thanks to a positive
growth rate of 0.1 percent for the third quarter.
Experts,
however, agree that the recovery will be a slow one.
Advance
data released by the INE on Wednesday coincided with figures from the Bank of
Spain, which said last week that a return to growth has been possible thanks to
strong exports.
The
INE figures also coincide with the Bank of Spain with regard to third-quarter
comparisons with the same period in 2012, which saw growth contract by 1.2
percent.
The
Spanish economy left behind nine quarters of shrinking output in the period
July-September, marking an end to the longest recession the country has
suffered in decades. Previously, Spain had entered its first recession in 15
years in 2008, which lasted until the first quarter of 2010.
Jesús
Fernández, an analyst for the Spanish think-tank Funcas, told news agency Efe
that emerging from recession would not mean an end to the crisis, given that a
long period lies ahead of low growth.
The
INE data is provisional, with the official figures not due for release until
November 28.
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