Economics
Spain Shows Renewed Momentum as Recovery Accelerates
- Economy expanded 0.8 percent in the first quarter of the year
- IMF, Bank of Spain and Spanish government upgrade GDP forecast
This article is for subscribers only.
The Spanish economy showed signs of renewed momentum in the first quarter with growth accelerating faster than expected.
Output grew 0.8 percent in the three months through March, the National Statistics Office said Friday in a preliminary report. That compares with 0.7 percent in the fourth quarter and beats the median estimate in a Bloomberg survey of economists predicting growth of 0.7 percent. From a year ago, the economy expanded 3 percent, the statistics office added.