Spain reported 1.4% year-on-year growth in September, contradicting expectations of a 1.5% contraction. Spain has also had successful bond sales for the year and registered growth in third-quarter exports. “All the indicators point to a turnaround, and that we’re entering into growth. The doubt remains on whether it will be strong or weak, but it’s clear we’re passing from a period of recession to a period of growth,” said Nicolas Lopez, analyst at Madrid broker M&G Valores. Unemployment remains high at above 25%.