The economy slowed to 0.4% in the second quarter and grew one tenth less than expected



Spanish economy it grew 0.4% in the second quarter, one tenth less than in the first quarter, due to the weakness of consumption and business investment and despite the improvement of the foreign sector, as reviewed by the National Institute of Statistics (INE) on Monday. GDP thus grows at the slowest pace in three years and a tenth less than last July. In annual terms, GDP advanced 2% in the second quarter, two tenths less than in the first.

He employment growth, measured in full-time equivalent jobs, has increased to 0.5%, one tenth less than in the previous quarter.

Economic growth it relies on the dynamism of the foreign sector, with an increase in exports of 1.7% and an increase in imports of 0.9%.

The quarterly slowdown in GDP growth It was a consequence of a smaller increase in consumption, which only advanced 0.1%, two tenths less than in the previous quarter, after stagnating household consumption and reducing the growth rate of public spending, from 0.5% to 0.4%.

On the other hand, the gross formation of fixed capital (investment) fell by 0.2%, compared to the 1.4% increase experienced in the first quarter.

. (tagsToTranslate) second (t) quarter

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