Spain’s central bank reported on Wednesday that a two-year recession in the euro zone’s fourth-largest economy ended in the third quarter when Spain posted 0.1% growth from the previous quarter, in line with government projections. A return to growth for the currency area’s fourth-largest member is likely to feed hopes that the euro zone’s economy is finally emerging from a three-year crisis that was triggered by doubts about the soundness of its bank, and rising levels of government debt. The turnaround in Spain will add to expectations that the euro zone’s economy grew again in the three months to September, having expanded in the second quarter following 18 months of contraction. A survey of consumers in the currency area released Wednesday pointed to a continued pickup in confidence, which should support spending by households in coming months. The rise in Spanish gross domestic product after more than two years of contraction marks a turning point in the euro-zone crisis and is another sign that the Euro zone is doing the right things to come out of recession. It is however, a long, hard road and that all-familiar saying springs to mind…there’s no gain without pain!





