Iceland's economy grew 2.4 percent sequentially in the first quarter this year, the latest figures from Statistics Iceland showed Friday.
This followed a 1.9 percent growth in gross domestic product in the fourth quarter and 4.4 percent expansion in the third quarter of 2011.
During the first three months of the year, household final consumption increased 0.3 percent quarter-on-quarter. Government spending increased 0.4 percent.
Investment, on the other hand, decreased 18.6 percent compared to the preceding quarter. Exports decreased 5.6 percent and imports dropped 5.2 percent.
On a non-seasonally adjusted basis, GDP was up 4.5 percent after 2.7 percent increase in the December quarter.
by RTT Staff Writer
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