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Exports help Spain to eke out growth

Spanish economy - Growth slows in second quarter
Spanish economy - Growth slows in second quarter

Official figures show that Spain's economy slowed in the second quarter of 2011 as the euro zone debt crisis intensified.

Growth slowed to 0.2% in the second quarter from 0.3% in the first three months of the year, the Spanish central bank said.

As in the first quarter, exports allowed Spain to show growth despite weak consumer spending and investment at home.

The Spanish economy slumped into recession during the second half of 2008 as the global financial meltdown compounded the collapse of a property bubble. It stabilised in 2010, but still has an unemployment rate of almost 21%..

Separate figures showed that Italy's economic growth accelerated to 0.3% during the second quarter, following growth of 0.1% in the first three months of the year.