Bank of Spain sees possible moderation in growth in the second quarter – Investing.com Spain

MADRID (Reuters) – The Bank of Spain said on Wednesday it sees a possible moderation in the pace of growth in the second quarter to recent data from disparate sign, although consumption private possibly continue to support economic expansion.

in its monthly bulletin May, the central bank said the 0.8 percent growth of the economy in the first quarter of this year would have been supported by the domestic private spending, a trend which lasted from April to June.

“The limited information available concerning the second quarter is consistent with the maintenance of these trends in the most recent period, although possibly with some moderation in the pace of expansion of activity,” said the central bank .

Despite the favorable trend in consumption, the bank warned of “a different behavior” in several indicators in April.

Although the PMI consumer goods rose, data European Commission on consumer confidence and retailers were below the average for the first quarter, said the central bank.

the Bank of Spain added that there was also disparity in recent quantitative data, with strong gains of new car registrations in April and a slowdown in retail trade and industrial production.

the Spanish Economy Minister acting, Luis de Guindos, said Tuesday he does not foresee a slowdown economy in the second quarter.

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