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Spain's economy grows by 0.8 pct in Q1

Xinhua, April 29, 2016 Adjust font size:

The Spanish economy grew by 0.8 percent in the first quarter of the year according to advanced data published on Friday by Spain's Statistical Office (INE).

The figure is the same as the economic growth registered in the third and fourth quarters of 2015, when Spain's gross domestic product (GDP) also grew by 0.8 percent. If this advanced data is confirmed, the Spanish economy has been growing for 11 consecutive quarters.

The INE also said the country's economy grew by 3.4 percent year-on-year, which means Spain's economy has grown for nine consecutive quarters year-on-year.

The figures provided by the INE on Friday are higher than the forecast published by the Bank of Spain that had predicted a 0.7 percent growth between January and March. Meanwhile, the Spanish government forecast a 2.7 percent growth for 2016 and a 2.4 percent growth for 2017.

The INE will confirm this data on May 26. Endit