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MADRID Zhaire Smith 76ers Jersey , Nov. 27 (Xinhua) -- Spanish economy grew by 0.5 percent from the second quarter to the third quarter of the year thanks to a better performance of domestic demand, according to data unveiled on Thursday by the Spanish Statistical Office (INE).


Domestic demand contributed 2.5 percent of gross domestic product (GDP) in the third quarter of the year, increasing from the previous 2.2 percent of the second quarter, thanks to an increase of 0.8 percent in households' consumption.


Investment increased by 1 percent in the third quarter, while public expenditure increased by 0.1 percent from July to September, the INE said. Exports increased by 3.5 percent during this three-month period Wilt Chamberlain 76ers Jersey , while imports rose by 4.7 percent.


Meanwhile, employment increased by 0.5 percent from the second quarter to the third one.


According to the INE, Spanish economy grew by 1.6 percent from the third quarter in 2013 to the third quarter this year due to an increase of 2.7 percent in households' consumption.


Business investment increased by 3.1 percent in the third quarter year-on-year while exports and imports increase by 4.6 percent and 8.2 percent respectively.


The INE highlighted that employment increased by 1.4 percent during that period, which meant around 220,000 new job opportunities.


The Spanish Minister of Economy Luis de Guindos said on Thursday that Spain would meet the government's growth prediction for 2014, a 1.3 percent GDP growth. He said the 1.6 percent annual growth published by the INE on Thursday was "good news" that would continue to appear.


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