Spain Marks Year of Recovery in Economy Hooked on Exports
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As Spain looks to enter a second year of recovery, Mariano Rajoy’s repair job on the euro region’s fourth-biggest economy might only be half done.
While a Bank of Spain estimate may show in coming days that it completed a full 12 months of growth in the last quarter, that report and unemployment data will also reveal how much work the prime minister has left to do to. The economy remains dependent on exports fueled by the country’s adjustment during the debt crisis, with limited support from domestic demand.