Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
(AP) - ECONOMY IMPROVING: Spain's economy minister says third-quarter economic data will show growth after eight straight quarters of contraction, but says faster growth will be needed to "make a real impact" on one of the highest unemployment rates in the European Union.
JOBS WILL FOLLOW: Luis de Guindos told The Associated Press in an interview Thursday he expects there will be "an important reduction in the unemployment rate" next year for the first time since 2008. The rate stands at 26.2 percent.
HOW SOON: Asked when the rate might fall below 25 or 20 percent, de Guindos said did not reply directly but said the "evolution of employment" is more important than the rate and that economic growth "has to be enhanced in order to make a real impact."
.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
