MADRID (MarketWatch) -- The Bank of Spain on Friday estimated Spanish gross domestic product grew 0.1% in the first quarter, compared to the fourth quarter of 2009, which means it has emerged from a two-year recession, as this is the first time GDP has expanded in six quarters. GDP growth fell 1.3% on an annual basis in the quarter. Economist Ben May at Capital Economics said the gain was broadly in line with their forecast of 0.2% growth for the euro zone as a whole. They said while the figure is only an estimate, it has turned out to be accurate in the past. "But events in Greece, mountains of private sector debt and troubles in the banking sector all suggest that any upturn could prove short-lived. Indeed, we still think that a strong and sustained recovery remains a long way off," May said.
http://www.marketwatch.com/story/spain-gdp-grows-first-time-in-six-quarters-2010-05-07?dist=beforebell
