Spain’s Q1 figures are in, and they show that output expanded at 0.9%, its fastest rate in seven years.
It places the government on target to meet its forecast 2.9% economic growth in 2015, but the figures also show significant imbalances remain uncorrected.
Unemployment remains sky-high, and the public deficit is still large. External debt at 170% of GDP is one of the highest in the world.
Politics are starting to weigh on the markets, with polls suggesting four parties are equally splitting the vote as the election looms at the end of the year.