The Spanish economy exited recession in the third quarter of 2013 with the gross domestic product expanding 0.1 percent sequentially, final data from the statistical office Ine revealed Thursday.
This follows a 0.1 percent contraction in the second quarter and a 0.4 percent fall in the first quarter.
On an annual basis, the economy remained in negative territory. The GDP fell 1.1 percent year-on-year in the third quarter. This was revised from a 1.2 percent contraction reported initially. In the second quarter, GDP was down 1.6 percent.
Compared with the previous quarter, private consumption grew 0.4 percent and government spending rose 0.1 percent. Gross fixed capital formation increased 0.2 percent quarter-on-quarter. Exports and imports increased 2.2 percent and 2.8 percent respectively.
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