Spain’s GDP grows 0.9% in 1Q 2015 – The Economist

The National Statistics said the annual growth rate was 2.7%, seven points higher than that reported in the fourth quarter of 2014 tenths.

Madrid.-Gross Domestic Product (GDP) of Spain grew in the first quarter of 2015 0.9%, confirmed Thursday the National Statistics Institute (INE).

In a statement, the agency the Ministry of Economy and Competitiveness said the annual growth rate was 2.7%, seven points higher than that reported in the fourth quarter of 2014 tenths.

He said that this increase is the result “of both greater contribution of domestic demand to aggregate growth as a less negative contribution from external demand. “

In domestic demand, he said that both final consumption expenditure and investment in fixed capital have an annual variation higher than that recorded in the fourth quarter of 2014

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The final consumption expenditure of households experienced an annual growth of 3.5%, a tenth higher than the fourth quarter, reflecting especially the behavior of durable goods and non-durable non-food.

The final consumption expenditure of general government showed a variation annual volume of 0.1%, six tenths higher than the previous quarter.

The contribution of net external demand of the Spanish economy to quarterly GDP annual growth is -0.3 points, four points less negative that recorded in the previous quarter.

Exports of goods and services increased their growth point, from 4.7% to 5.7%, and imports of goods and services slowed down its pace of growth from 7.7% to 7.4 percent.

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