MADRID (dpa-AFX) - Spain's economy expanded at the fastest pace in five consecutive quarters in the first three months of the year, flash data from the statistical office INE showed on Tuesday.
Gross domestic product grew 0.7 percent from the fourth quarter of 2018, when it expanded 0.6 percent. Economists had expected the growth rate to remain unchanged.
The latest pace of growth was the fastest since the fourth quarter of 2017, when the economy expanded at the same pace.
Household consumption growth eased slightly to 0.3 percent, while investment rebounded with a 0.7 percent gain after stagnating in each of the previous two quarters.
Exports shrunk 0.5 percent after growing 0.7 percent in the previous quarter and imports decreased 1.1 percent following stability.
Industrial production rebounded with 1.4 percent growth and construction expansion improved to 1.8 percent. Services growth was stable at 0.8 percent.
On a year-on-year basis, GDP increased 2.4 percent in the first quarter after a 2.3 percent rise in the previous three months. In the third quarter of last year, growth was 2.5 percent.
In the first quarter, employment grew 2.8 percent year-on-year after a 2.6 percent increase in the previous three months.
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