Spain GDP Growth Moderates

(RTTNews) - Spain's economy logged a softer growth in the first quarter, provisional estimate from the statistical office INE showed Thursday.

Gross domestic product grew 0.6 percent from the fourth quarter. This was slower than the 0.8 percent expansion seen in the previous quarter but faster than the expected growth of 0.5 percent.

Domestic demand contributed 0.4 percentage points to quarterly GDP growth. Household final consumption expenditure increased 0.6 percent and government final consumption expenditure rose 0.2 percent. Gross fixed capital formation registered a marginal growth of 0.1 percent.

Exports of goods and services dropped 0.5 percent, and imports decreased 1.2 percent. On a yearly basis, GDP growth improved marginally to 2.7 percent from 2.6 percent in the fourth quarter.