GDP rises above expectations

25th February 2004, Comments 0 comments

25 February 2004, MADRID - Spain's gross domestic product grew 2.4 percent in 2003, according to figures released Wednesday.

25 February 2004

MADRID - Spain's gross domestic product grew 2.4 percent in 2003, according to figures released Wednesday.

The General Accounting Office said employment increased 1.8 percent during last year.

There were 290,000 new full-time jobs created, although employment is said to be at 10 percent.

Last year's GDP growth was 0.4 percent above the 2 percent in 2002.

It also stood at 0.1 percent above the government's own revised forecast of a 2.3 percent rise in GDP for 2003.

The economic activity figure was based on growth of 2.2 percent in the first quarter, 2.3 percent in the second quarter, 2.4 percent in the third quarter and 2.7 percent in the fourth quarter.

[Copyright EFE with Expatica]

Subject: Spanish news

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