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Financial News: Spain's Economic Growth Rises As Estimated In Q1

Spain's Economic Growth Rises As Estimated In Q1

05/25/2017 - 03:49:00 (RTTNews)

(RTTNews) - Spain's economic growth improved slightly, as estimated, in the first quarter, final data from the statistical office INE showed Thursday.

Gross domestic product grew 0.8 percent sequentially in the first quarter, in line with preliminary estimate. The pace of expansion accelerated from 0.7 percent seen in the fourth quarter of 2016.

On the expenditure-side, household spending climbed at a slower pace of 0.4 percent. Meanwhile, investment growth accelerated to 2 percent from 0.5 percent.

Exports advanced at a pace of 4 percent, faster than the 2 percent increase in the fourth quarter. Likewise, imports rose 3.8 percent versus 1.8 percent in the prior period.

On a yearly basis, GDP growth held steady at 3 percent in the first quarter. The growth figures matched the flash estimate published on April 28.

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