MADRID, Sept 22 Reuters Spain39;s gross domestic product grew 0.5 in the second quarter, its National Statistics Institute INE said on Friday, revising its previous estimate up from 0.4 growth and confirming a faster and stronger rebound from the COVID19 pandemic.

The Spanish Economy Ministry said in a statement that INE39;s data showed Spain39;s economy picked up speed during the second half of 2021, kept momentum in early 2022 and surpassed prepandemic levels last year, like other large EU economies.

Previous data had shown that Spain39;s economy had only recovered its prepandemic size in 2023.

Spanish GDP in the April to June period grew 2.2 from the same period a year ago, INE said, a faster pace than the 1.8 growth it had originally estimated.

INE also revised GDP growth for the first quarter of 2023 to a quarteron quarter growth of 0.6 up from 0.5. Spain39;s yearonyear growth in the first quarter remained unchanged at 4.2.

On Monday, INE revised Spain39;s 2022 economic growth rate to 5.8 from 5.5 after computing final data, and made an upward review of 2021 data to growth of 6.4 from a previous 5.5.

Employment, one of the most important drivers of economic activity, has also been revised upwards.

The Bank of Spain warned this week that it expects a gradual slowdown in the economy, with growth of 0.3 in the third quarter of 2023, and annual growth of 2.3, still faster than other euro zone countries.

Reporting by Joao Manuel Mauricio in Gdansk and Belén…