Spanish economy shows signs of recovery

Spain's economy is showing more signs of emerging from recession, the country's economy minister said. Fourth-quarter results showed a 0.3% upturn compared to the previous quarter, Economy Minister Luis de Guindos told the Spanish parliament. The news comes after the recession-stricken country returned to growth in the third quarter of 2013, when the economy grew by 0.1%. "Recovery is weak, but we are recovering," the minister said. The country's high unemployment rate, the highest in the European Union after Greece, dropped more rapidly than expected at the end of 2014, when it fell to 25%, according to the (DPA). The government had expected a figure closer to 25.9%. De Guidos also assured the Spanish parliament that the country would achieve its deficit-reduction target, at 5.9% of gross domestic product, agreed with the European Commission in 2013.