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Spain's GDP grows by 1 pct in 2Q

Xinhua, July 30, 2015 Adjust font size:

Spain's gross domestic product (GDP) grew by 1 percent in the second quarter of the year, according to advanced data unveiled on Thursday by Spain's Statistical Office (INE).

Spain's economy has been growing by eight consecutive quarters on a quarterly basis and by seven consecutive quarters on a year-on-year basis.

The INE said that on a year-on-year basis the country's GDP grew by 3.1 percent in the second quarter in 2015, which meant a 0.4 percent increase when compared with the figure of the first quarter.

The INE will confirm this data on Aug. 27.

The Bank of Spain had reported a 1-percent GDP growth on a quarterly basis and a 3.1 percent GDP growth on a year-on-year basis in its economic bulletin of June, while the Spanish government had recently revised up its economic predictions for 2015 and 2016 when the economy is expected to grow by 3.3 percent and 3 percent respectively. Endit