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Economy And The Numbers

Spain GDP Declines At Slower Pace In Q1

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

The Spanish economy contracted at a slower pace in the first quarter of 2013, preliminary data released by the statistical office Ine showed Tuesday.

The gross domestic product fell 0.5 percent quarter-on-quarter in the first quarter, slower than a 0.8 percent slump in the fourth quarter of 2012.

The GDP fell 2 percent year-on-year following a 1.9 percent decline in the previous quarter. Both the figures matched economists' forecast.

Domestic demand contributed negatively to the overall GDP, which was partially offset by positive contribution from external demand, the statistical office said.

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