End of the recession

25th October 2013, Comments 0 comments

Reporting on statistics published by the Bank of Spain on October 22, La Vanguardia announces that the country, whose GDP increased by 0.1 per cent in the third quarter of 2013, is technically no longer in recession.

 End of the recession
La Vanguardia

According to the daily the recession, which lasted for nine consecutive quarters, "was the second since the onset of the crisis and the most prolonged in Spain's democratic history."

The newspaper continues -

End of the recessionIncreased competitiveness prompted by labour market reforms and a curb on wage costs made a decisive difference, as did the intiative of companies to revitalise exports.

Read this article in Spanish.

Reprinted with permission of Presseurop.




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