Gross Domestic Product (GDP) grew 2.5% year-on-year and 1.6% quarter-on-quarter in the first three months of the year, according to a flash estimate by the National Statistics Institute (INE) published today
According to the INE, "the contribution of domestic demand to the year-on-year change in GDP remained positive in the 1st quarter, but lower than in the previous quarter, as a result of the deceleration of private consumption and the reduction of investment, determined by a negative contribution of the change in inventories, with an acceleration of exports of goods and services and a slowdown in imports of goods and services.
"As a result, the positive contribution of net external demand was greater than in the previous quarter," the INE said.
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