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14/05/2010 - Spain's economy edges out of recession  14/05/2010 - Spain's economy edges out of recession

Spain's economy emerged from recession after growing by 0.1% in the first three months of 2010, the country's central bank has said.

The growth ended six successive quarters of contraction.

This news follows on from reports that the Spanish property market has started to pick-up following several years of declines.

The National Statistics Institute (INE) reported that house sales have surged for the third consecutive month, with sales in March 2010 up 9% when compared to the same period in 2009, following on from increases reported in February of 18.7%.

It is interesting to note that 57.3% of all recorded sales were in the Andalusia, Madrid, Valencia and Catalonia regions, all popular with overseas investors.

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