Spain GDP Growth Improves More Than Forecast

(RTTNews) - Spain's economic growth accelerated more than the estimated in the second quarter, final data from the statistical office INE showed Friday.

Gross domestic product logged a quarterly growth of 0.8 percent, which was faster than the 0.6 percent rise in the preceding period and also the second quarter's initial estimate of 0.7 percent.

On a yearly basis, growth was revised up to 3.1 percent from 2.8 percent. However, the pace slowed slightly from the 3.2 percent expansion seen in the first quarter. Data showed that domestic demand contributed 0.8 percentage points to GDP growth, while external demand made no positive contribution.

Household spending advanced 0.8 percent sequentially and government spending moved up 0.1 percent. Gross capital formation logged a 1.8 percent increase.

Exports of goods and services rose 1.3 percent and imports climbed 1.6 percent.