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Investing.com -- Spain’s economy grew faster than initially reported in the second quarter, according to revised data released Friday by the National Statistics Institute (INE).
Gross domestic product expanded by 0.8% in the April-June period compared to the previous quarter, surpassing the preliminary estimate of 0.7% published in July.
The revised figure also exceeded the 0.7% growth forecast by analysts.
On an annual basis, the Spanish economy grew 3.1% in the second quarter, significantly higher than the preliminary reading of 2.8%.
This annual growth rate also beat analyst expectations, which had projected a 2.8% increase.
The statistics agency also revised first-quarter data, adjusting the year-on-year GDP growth for the January-March period to 3.2%, up from the previously reported 2.8%.
The quarter-on-quarter growth rate for the first quarter remained unchanged at 0.6%.
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