Spanish economy grows at fastest pace since financial crisis

By 01.29.2016 news > World

MADRID (AP) — Official figures show the Spanish economy grew by a strong 0.8 percent in the fourth quarter compared with the previous three months.

The National Statistics Office said Friday the economy grew 3.2 percent for all of 2015, its strongest expansion since before its economic crisis started in 2008.

Spain only emerged from recession in late 2013. It’s now one of the European Union’s fastest growing economies but still has a 21 percent unemployment rate, the second highest in the 28-nation bloc after Greece.

Acting conservative Prime Minister Mariano Rajoy had hoped the recovery would help him be returned to office in last month’s election. His Popular Party won most seats but lost its parliamentary majority and must now clinch support from other parties to stay in power.

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