Spain sees economic turnaround later in 2013, economy secretary

MADRID Thu Feb 28, 2013 7:49am EST

Spain's Secretary of State for the Economy and Support for Enterprises Fernando Jimenez Latorre (L) and Deputy Governor of the Bank of Spain Fernando Restoy Lozano address the media during the presentation of a banking audit by consultancy Oliver Wyman in Madrid September 28, 2012. REUTERS/Susana Vera

Spain's Secretary of State for the Economy and Support for Enterprises Fernando Jimenez Latorre (L) and Deputy Governor of the Bank of Spain Fernando Restoy Lozano address the media during the presentation of a banking audit by consultancy Oliver Wyman in Madrid September 28, 2012.

Credit: Reuters/Susana Vera

MADRID (Reuters) - Spain's economy will return to quarterly growth in the third or fourth quarter this year, Secretary of State for the Economy Fernando Jimenez Latorre said on Thursday.

Spain's economy contracted 1.4 percent last year and the consensus outlook is that it will shrink by about that amount again in 2013. The government's official forecast is for GDP to fall 0.5 percent this year.

(Reporting by Manuel Maria Ruiz, Writing by Fiona Ortiz)

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