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Spain's economy grows by 0.8 pct in Q3

Xinhua, November 26, 2015 Adjust font size:

Spain's economy grew by 0.8 percent in the third quarter of the year, according to data released on Thursday by Spain's National Statistical Institute (INE).

The figure meant a 0.2-percent fall compared to the growth rate of the second quarter when the economy had grown by 1.0 percent, while the country's gross domestic product (GDP) rose by 3.4 percent in comparison with the third quarter in 2014, reaching 2007 levels.

The INE attributed the rise to household consumption which rose by 1.0 percent from the second quarter to the third one.

In the third quarter of the year, exports rose by 2.8 percent compared to the 1.4 percent of the second quarter, while imports increased by 4.0 percent. Meanwhile, investment rose by 1.1 from the second quarter to the third one.

Employment increased by 0.7 percent in the third quarter of the year, while on a year-on-year basis employment rose by 3.1 percent.

Spain's Economy Minister Luis de Guindos said the annual growth rate for the third quarter that shows a 3.4 percent growth proved the strength of the country's economic recovery.

He highlighted that it was a "balanced" growth with positive figures of investment and job creation. Endit