Spanish shoppers and lower imports boost economy
31 August 2005, MADRID - The Spanish economy has grown by 3.4 percent in the second quarter of the year thanks to increased domestic demand and the reduction in imports.
31 August 2005
MADRID - The Spanish economy has grown by 3.4 percent in the second quarter of the year thanks to increased domestic demand and the reduction in imports.
The rise in the gross domestic product (GDP) between April and July was compared with the same period during 2004, said the Spanish National Office of Statistics.
Internal demand in Spain increased by 6 percent during the period between April and July, the second quarter of the year.
At the same time imports fell by 0.9 percent from 2.7 percent to 2.6 percent.
Year-on-year, spending on homes year-on-year, rose to 4.8 percent.
But general investment on goods showed the biggest rise to 10.4 percent as a result of the dynamism of the economy.
The construction industry also continued to rise, providing a strong support to the economy.
The information technology, services, and communications sectors of the economy increased to 4.3 percent.
And analysts said year-on-year employment went up by 3.2 percent.
[Copyright EFE with Expatica]
Subject: Spanish news