By Daniel Hunter

Following two years of recession there is reason for mild optimism in Spain as the country saw its first quarterly economic growth since 2011.

According to data from the country's National Statistics agency INE the country's GDP grew 0.1% in the July-to-September period, after contracting for the previous nine quarters.

Its growth confirmed last week's estimates from the Bank of Spain.

Spain was one of the countries worst hit by the global economic crisis, with street riots and soaring unemployment.

The statistics mean Spain is officially out of recession.

The INE said an increasing number of exports supported the growth, with a boost to the tourist industry from holidaymakers avoiding northern Africa and the Middle East.

Join us on
Follow @freshbusiness