Madrid (EFE).- The Spanish economy grew by 0.5% in the first quarter thanks to the increase in business investment and exports, and despite the collapse in household consumption, which is one tenth more than the previous quarter after revising upwards the data for the fourth quarter.
According to the national accounting data provided by the National Statistics Institute (INE), domestic demand (consumption and investment) subtracted 0.8 percentage points from quarterly growth, while foreign demand (exports and imports) contributed positively with 1.3 points.
Employment in the economy, measured in hours worked, increased 0.4% between January and March, while full-time equivalent jobs only grew 0.1%, due to the lower increase in average full-time days complete.