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Spanish economy pulls ahead as eurozone stalls

A senior citizen shops in covered market in the center of Madrid on October 4, 2013Spain’s economy expanded for the fifth straight quarter from July to September, official data showed on Thursday, holding to weak recovery from recession while the rest of the eurozone stalled. The country is pulling away from deep problems arising from a property crash and the eurozone debt crisis, and has enacted tough reforms against a background of high unemployment. Spanish gross domestic product grew by 0.5 percent in the third quarter from output in the previous quarter, according to initial figures from the national statistics institute. The Spanish economy, the eurozone’s fourth biggest, has achieved modest but steady growth since emerging last year from its recession after the collapse of a property boom in 2008 that brought the country to the verge of default.

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