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Further evidence of Spanish recovery emerges as central bank says economy grew 0.4 pct in Q1

The recovery in the Spanish economy appears to be gathering steam.

Figures Thursday from the Bank of Spain show that economic growth doubled in the first quarter to a quarterly rate of 0.4 percent from the previous three-month period largely on the back of a pick-up in domestic demand.

Overall for 2014, the bank is estimating growth of 1.2 percent.

Year-on-year, the Spanish economy grew by 0.5 percent, ending nine quarters of negative figures.

Spain, which has a 26 percent unemployment rate, emerged from a double-dip recession in the third quarter of 2013.

The figures are provisional with official figures to be released April 30.