MADRID: The economic output expanded by 0.9 percent in the January-March period on a quarterly basis, up from 0.7 percent in the previous quarter, according to provisional figures from the National Statistics Institute.
It was the seventh consecutive time that Spain was posting quarterly growth. On an annual basis the Spanish economy, the eurozone’s fourth-largest, grew by 2.6 per cent in the first quarter, up from 2.0 per cent in the previous three month period.
Spain expanded by 1.4 percent in 2014 — its first full-year of growth since a property bubble burst in 2008, throwing millions of people out of work – due to increased consumer spending and business investment. Like many of its eurozone partners, the country has also benefited from sliding oil prices as well as a weaker euro which has helped boost exports.” Prime Minister Mariano Rajoy on Monday said the government expects the country’s economy to expand by 2.9 percent this year, up from a previous estimate of 2.4 percent growth.
