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Spain's Economy Edges Upwards in 2nd Quarter - 2003-08-04

The Bank of Spain said the country's economy expanded slightly in the second-quarter.

The bank said in a report Monday that Spain's economy grew at an annual rate of 2.2 percent from April to June. The rate represented a 0.6 percent quarterly growth rate. Part of the gain came from increased demand and public spending.

The Bank of Spain also predicted a moderate recovery in the world economy in the second half of this year. The report comes only days after the Spanish government revised its 2003 growth forecast downward.