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Spain's economy grows by 0.9 pct in Q1

Xinhua, April 30, 2015 Adjust font size:

The Spanish economy grew by 0.9 percent in the first quarter of 2015, according to data published on Thursday by INE, or the country's statistical office.

The figure is 0.2 percent higher than the growth rate experienced in the last quarter of 2014, when the Spanish economy grew by 0.7 percent. If data released on Thursday is confirmed, the first quarter growth rate would be the biggest on a quarterly basis in seven years.

On a year-on-year basis, Spain's economy grew by 2.6 percent in the first quarter. The estimated figure represents the biggest gross domestic product (GDP) growth after that of 2008 when Spain's GDP grew by 3.0 percent.

A cabinet meeting on Thursday will revise up its new forecasts for Spain's economy, according to the latest statements of Prime Minister Mariano Rajoy who said the Spanish economy was expected to grow by 2.9 percent this year.

The INE will confirm the data released on Thursday on May 28. Endit