Thursday, May 28, 2015

The Spanish GDP grows 0.9% through March – HOWEVER

Madrid, May 28 (EFE) .- The Spanish economy grew 0.9% in the first quarter thanks to the contribution of domestic demand, which was 3 points, and the recovery in consumption and investment.

The National Statistics Institute (INE), today confirmed the advance data on 30 April.

In the annual rate of increase was 2.7%, compared with 2% registered in the fourth quarter of 2014.

Between January and March 2015 the Spanish economy once again strengthened and employment It grew 0.8% quarterly rate and 2.8% year on year.

The GDP rose quarter on quarter two more than in the fourth quarter of 2014 tenths chains seven consecutive quarters of gains.

This breakthrough is a result of increased spending on household consumption of 0.7% and an increase in government spending of 1.6% and a 1.3% rise in investment, according to source.

The domestic demand contributed to GDP growth in three points, three points more than it did in the previous quarter, while external demand also had a less negative contribution of -0.3% .

So, exports grew by 1% quarter on quarter and imports grew 0.8%.

In terms of annual variation, the Spanish economy and is growing 2.7%, close to the 2.9 estimated by the Government later this year%.

The use of the economy increased one tenth between January and March, compared to the last quarter of last year and grew in annual terms four tenths.

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