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News Summary: Spain Raises Growth Forecast

By The Associated Press

ROCK BOTTOM?: Spain is changing its forecasts for unemployment and economic growth, indicating the worst of its recession is over. But the recovery is likely to be slow and brutal.

SLIGHT IMPROVEMENT: The government expects the jobless rate to average 25.9 percent in 2014. While that is down from a previous forecast of 26.7 percent and slightly better than the current 26.3 percent, it is still close to a record high for Spain.

ANEMIC GROWTH: The economy is forecast to grow 0.7 percent next year, up slightly from the previous estimate of 0.5 percent released in April. The country has been in recession for most of the past four years.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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