Spain's economic growth accelerated in the first quarter from the prior quarter as initially estimated, final data from the statistical office INE showed Thursday.

Gross domestic product grew 0.4 percent sequentially after rising 0.2 percent in the previous quarter. The rate matched the flash estimate released on April 30. This was the third consecutive increase and the fastest in six years.

On the expenditure side, household spending rose 0.4 percent and government spending surged 4.4 percent. Meanwhile, investment fell 0.6 percent. Exports of goods and services were down 0.4 percent, while imports advanced 1.5 percent.

The statistical office revised annual GDP growth for the first quarter to 0.5 percent from 0.6 percent. The growth reversed a 0.2 percent fall in the fourth quarter.

RTTNews