Spanish GDP Growth Confirmed at 7-Year High


The Spanish economy advanced 0.7 percent on quarter in the last three months of 2014, following a 0.5 percent increase in the previous period, final estimates showed. It was the fastest pace since the third quarter of 2007, boosted by domestic demand.

Household expenditure rose at a faster 0.9 percent, following a 0.8 percent increase in the previous quarter. Investment grew 1.4 percent (1.1 percent in Q3), driven by a 1.6 percent increase in fixed assets and a 1.4 percent expansion in construction.

Exports were flat while imports shrank for the first time in seven quarters by 0.6 percent. Meanwhile, public spending contracted 1 percent, following a 0.1 percent drop in the previous period. 

Year-on-year, the economy expanded 2 percent, boosted by domestic demand. Household consumption rose 3.4 percent while investment grew 5.1 percent. In contrast, net external demand subtracted 0.7 percent to growth.

Considering full 2014, the GDP expanded 1.4 percent, the highest growth rate since 2008.

Spanish GDP Growth Confirmed at 7-Year High


Joana Taborda | joana.taborda@tradingeconomics.com
2/26/2015 11:33:47 AM