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MADRID – The land frugalness grew just 0.2 proportionality for the ordinal lodge streaming during the first threesome months of 2011, as exports helped equilibrize prop up an frugalness hit by soaring unemployment and another woes, the bicentric slope said Friday.

The Bank of Spain said the country is still seeing a "modest recovery" after nearly two eld of recession.

Compared with the first lodge of 2010, land output was up 0.7 percent, according to the estimates.

The quarterly figures provided by the slope are an estimate that are usually followed up a hebdomad or so after by drawing from the National Statistics Institute. The two sets run to agree.

The slope says domestic obligation was downbound slightly so the uprise in first-quarter value came from a increase in exports as economies in Spain's trading partners recovered.

Spain is saddled with the eurozone's maximal dismissed evaluate of 21.3 percent, and the polity says the amount module not move to become downbound until the ordinal half of this year. The sort of dismissed is a achievement 4.9 million.

The Finance Ministry forecasts the frugalness to grow by 1.3 proportionality in 2011, but the bicentric slope and the IMF put the amount lower, at 0.8 percent.

In Friday's report, the land bicentric slope said household consumption was anaemic because of the broad dismissed rate, declining concept values, dripless credit at banks and another lenders and ascension inflation that is eating absent at purchase power.

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