7 May, 2010 @ 17:53
1 min read
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Spain crawls out of recession

SPAIN has crawled out of a two-year long recession after its economy grew by 0.1 per cent in the first quarter of this year.

The Bank of Spain confirmed the first-quarter growth, ending seven consecutive quarters of contraction.

The slight growth was in line with central government’s predictions and will come as a relief to officials.

“The gradual improvement in the Spanish economy continued in the opening months of 2010,” said the Bank of Spain in a quarterly bulletin.

Just last week Spain’s credit rating was cut and it was also announced that national unemployment had also reached 20 per cent.

“While today’s GDP estimate by the Bank of Spain brings very good news, the growth outlook remains severely dampened,” explained UniCredit economist Tullia Bucco.

Spain’s economy shrank by 3.6 per cent in 2009.

Jon Clarke (Publisher & Editor)

Jon Clarke is a Londoner who worked at the Daily Mail and Mail on Sunday as an investigative journalist before moving to Spain in 2003 where he helped set up the Olive Press.

After studying Geography at Manchester University he fell in love with Spain during a two-year stint teaching English in Madrid.

On returning to London, he studied journalism and landed his first job at the weekly Informer newspaper in Teddington, covering hundreds of stories in areas including Hounslow, Richmond and Harrow.

This led on to work at the Sunday Telegraph, Sunday Mirror, Standard and even the Sun, before he landed his first full time job at the Daily Mail.

After a year on the Newsdesk he worked as a Showbiz correspondent covering mostly music, including the rise of the Spice Girls, the rivalry between Oasis and Blur and interviewed many famous musicians such as Joe Strummer and Ray Manzarak, as well as Peter Gabriel and Bjorn from Abba on his own private island.

After a year as the News Editor at the UK’s largest-selling magazine Now, he returned to work as an investigative journalist in Features at the Mail on Sunday.

As well as tracking down Jimi Hendrix’ sole living heir in Sweden, while there he also helped lead the initial investigation into Prince Andrew’s seedy links to Jeffrey Epstein during three trips to America.

He had dozens of exclusive stories, while his travel writing took him to Jamaica, Brazil and Belarus.

He is the author of three books; Costa Killer, Dining Secrets of Andalucia and My Search for Madeleine.

Contact jon@theolivepress.es

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