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Spain's economy grew by 1.4% in 2014 - official data

Spain's GDP rose to €1.6 trillion last year
Spain's GDP rose to €1.6 trillion last year

Spain's economy expanded by 1.4% in 2014, after five years of recession or no growth, the country's national statistics agency Ine said today, confirming a provisional figure published in late January.

The gross domestic product (GDP) of the euro zone's fourth largest economy rose to €1.06 trillion, Ine said in a statement. 

Last year also marked the first full year of economic growth since a 2008 property crash which put millions of people out of work and pushed the country to the brink of a bailout. 

Spanish Prime Minister Mariano Rajoy's government this week revised its growth forecast for this year upwards to 2.4% from 2% and said the country could create over half a million jobs in 2015.