Spanish & gt; & gt; Economy
UPDATED: 07/31/2015 – 8:48
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MADRID, July 30 (Xinhua) – The Spanish economy continues its recovery whose gross domestic product (GDP) grew by 1 percent in the second quarter of the year, involves eight quarters in a row with growth, reported the National Statistics Institute (INE).
In quarterly terms, says the INE, this is the highest growth rate since the first quarter of 2007, when it reached 3.6 percent.
Meanwhile, the Bank of Spain (BE) said that this growth is driven by domestic demand, as the contribution of the external sector was neutral and spending in household consumption have remained in the second quarter of 2015 the expansionary level it had in early 2014, highlights the BE.
In addition, says the agency, the data for the second quarter was particularly good in the tourism sector and job creation at its best quarter in a decade.
The Spanish government estimates that the Spanish economy will grow this year by 3.3 percent and 3 percent for 2016, . although the forecast of the Bank of Spain is 3.1 percent in 2015 and 2.7 percent for next year
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