(MENAFN) According to data published by Spain's Statistics Office (INE), Spain's economy expanded by 1.4 percent last year, showing a growth for the first time in six years, Xinhua reported.
Spain's economy has not stopped contracting since 2007, when in registered a growth of 3.8 percent, except when it 2010 when growth stood at zero. In 2009, it fell 3.5 percent and by 0.6 percent in 2011.
Analysts described the 2014 growth rate as positive, predicting a growth between 2.5 percent and 2.9 percent in 2015. This would happen providing the economy performs as well as it did in the last quarter of 2014
According to the INE, Spain's economy grew by 0.7 percent in the fourth quarter of 2014, marking the biggest quarter-on-quarter growth rate registered in seven years.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.