Spain's GDP up 0.2 pct in second quarter: provisional data

13th August 2010, Comments 0 comments

Spain's economy grew 0.2 percent in the second quarter, adding to 0.1 percent growth in the preceding three-month period, estimates from the national statistics institute INE on Friday showed.

On a year-on-year basis, Spanish GDP retreated by 0.2 percent.

The provisional figures were in line with estimates published last week by the Bank of Spain.

For all of 2010, the government expects the economy to contract by 0.3 percent, to be followed by 1.3 percent growth in 2011.

Spain came out of recesssion in the first quarter, posting 0.1 percent growth in gross domestic product compared to the last quarter of 2009.

© 2010 AFP

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