23rd Oct 2013 10:05
MADRID (Alliance News) - The Spanish economy expanded for the first time in more than two years in the third quarter, the Bank of Spain said in its monthly bulletin on Wednesday.
Gross domestic product edged up 0.1 percent quarter-on-quarter in the third quarter, offsetting the last quarter's 0.1 percent fall.
However, the downturn continued on a yearly basis with GDP falling 1.2 percent, following a 1.6 percent decrease in the second quarter.
The sequential growth was underpinned by a 0.4 percent rise in exports and a 0.1 percent rise in private spending. These increases were partially offset by a 0.1 percent fall in investment and a 0.7 percent decline in imports.
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