News

Spain Q3 GDP Growth Revised Lower
Spain's quarterly economic growth was revised lower to 16.4 percent in the third quarter of 2020, from a preliminary estimate of 16.7 percent. Still, that was the steepest pace of expansion since comparable records began in 1995, following a record contraction of 17.9 percent in the previous period, as demand and activity recovered following the relaxation of restrictive measures during Summer. Household consumption surged 20.8 percent (vs -20.7 percent in Q2) and fixed investment jumped 21.7 percent (vs -20.6 percent in Q2). In addition, public spending rose 1.2 percent (vs 0.3 percent in Q2) and net external demand contributed positively to the GDP as exports increased more than imports. Year-on-year, the GDP shrank 9.0 percent, compared to a record 21.6 percent contraction in the previous period.
Published on 2020-12-23

Spain Q3 GDP Growth Beats Expectations
Spain's economy grew by 16.7 percent on quarter in the three months to September 2020, the most since comparable records began in 1995 and compared with a record contraction of 17.8 percent in the previous period, a preliminary estimate showed. The GDP reading also beat market expectations of a 13.5 percent expansion, as demand and activity recovered following the relaxation of restrictive measures during the summer. Household consumption surged 20.7 percent (vs -20.4 percent in Q2) and fixed investment jumped 19.9 percent (vs -22.1 percent in Q2). In addition, public spending rose 1.1 percent (vs 0.3 percent in Q2) and net external demand contributed positively to the GDP as exports increased more than imports. Still, year-on-year, the GDP shrank by 8.7 percent, compared to a record 21.5 percent contraction in the previous period and leaving the Spanish economy 9.1 percent below pre-pandemic levels.
Published on 2020-10-30

Spain GDP Contraction Revised Lower
Spain’s GDP shrank by 17.8 percent on quarter in the three months to June of 2020, lower than an 18.5 percent plunge in the advance estimate and compared to the previous period's 5.2 percent drop. Still, it is the biggest contraction ever, pushing the economy into a recession, triggered by one of Europe's strictest coronavirus lockdowns. Household consumption slumped 20.4 percent (vs -6.8 percent in Q1) and fixed investment tumbled 22.1 percent (vs -4.8 percent). On an annual basis the GDP contracted by a record 21.5 percent and compared to earlier estimates of a 22.1 percent fall.
Published on 2020-09-23

Spain Records Historic Fall in GDP in Q2
Spain's gross domestic product shrank by 18.5 percent on quarter in the three months to June 2020, the steepest contraction on record and compared to market expectations of a 16.6 percent fall, a preliminary estimate showed. The contraction was triggered by one of Europe's strictest coronavirus lockdowns, dragging the country to the steepest recession ever.
Published on 2020-07-31

Spain GDP Contracts the Most on Record
Spain's economy shrank 5.2 percent on quarter in the first three months of 2020, the most since the series began in 1995 and compared to the previous period's 0.4 percent growth, as the Covid-19 pandemic forced the government to impose lockdown measures from mid-March. Household consumption slumped 6.6 percent (vs 0.1 percent in Q4) and fixed investment tumbled 5.7 percent (vs -1.2 percent in Q4). On an annual basis the GDP contracted 4.1 percent, the largest decline in output since the second quarter of 2009.
Published on 2020-06-30

Spain GDP Contracts at Record Pace
Spain's economy shrank 5.2 percent on quarter in the first three months of 2020, compared with market consensus of a 4.4 percent contraction, a preliminary estimate showed. That was the steepest contraction since the series began in 1995, as the Covid-19 pandemic forced the government to impose lockdown measures in mid-March. On an annual basis the GDP slumped 4.1 percent, worse than expectations of a 3.2 percent fall.
Published on 2020-04-30

Spain GDP Growth Revised Down to 0.4%
The Spanish economy advanced 0.4 percent on quarter in the last three months of 2019, the same as in the previous period but slightly below 0.5 percent in the initial estimate. Household spending slowed sharply (0.1 percent vs 0.8 percent in the previous quarter) while public expenditure advanced slightly faster (0.7 percent vs 0.6 percent). In contrast, gross fixed capital formation shrank 1.2 percent (+1.1 percent in the previous period); exports went up 0.6 percent (vs 0.1 percent) and imports dropped 0.8 percent (vs +1.4 percent). Year-on-year, the economy advanced 1.8 percent, below 1.9 percent in the previous period but matching preliminary figures. Considering full 2019, the GDP grew 2 percent, lower than a 2.6 percent gain in 2018.
Published on 2020-03-31

Spain Q4 GDP Growth Beats Forecasts
Spain’s GDP expanded 0.5 percent on quarter in the three months to December of 2019, up from a 0.4 percent advance in the previous period and above market expectations of 0.3 percent, preliminary estimates showed. Exports rebounded 1.5 percent (vs flat reading in Q3) while imports fell 1.2 percent (vs 1.8 percent) and household spending rose 0.6 percent, the same as in the prior period. On the other hand, fixed investment dropped (-3.2 percent vs 1.7 percent). On a yearly basis, the economy advanced 1.8 percent, easing from a 1.9 percent growth in the third quarter but beating market consensus of 1.7 percent. Considering the whole 2019, the GDP grew 2.0 percent, lower than a 2.6 percent gain in 2018.
Published on 2020-01-31

Spain GDP Growth Confirmed at 0.4% in Q3
The Spanish economy expanded 0.4 percent on quarter in the three months to December of 2019, unrevised from the preliminary estimate and the same as in the previous quarter. It is the lowest sequence of growth since the first half of 2014. Exports stalled and investment went up more than expected while household spending growth was revised lower. Year-on-year, the GDP grew 1.9 percent, slightly below 2 percent in the advance release. It is the lowest annual growth since the third quarter of 2014.
Published on 2019-12-30

Spain GDP Growth Holds Steady at 3-Year Low
Spain's economy expanded 0.4 percent on quarter in the three months to September 2019, unchanged from the previous period's three-year low and in line with market expectations, a preliminary estimate showed. Household consumption and fixed investment rebounded firmly, while net external demand contributed negatively to the GDP growth.
Published on 2019-10-31

Spain Q2 GDP Growth Weakest in 3 Years
Spain’s economy advanced 0.4 percent on quarter in the three months to June 2019, below a preliminary estimate and market expectations of 0.5 percent and following a downwardly revised 0.5 percent expansion in the previous period. It was the weakest growth rate since the second quarter of 2016, as government spending slowed, fixed investment shrank and household consumption stalled. Net trade contributed positively to growth. On an annual basis, the GDP expanded 2 percent, following a downwardly revised 2.2 percent growth in the previous quarter and down from a flash estimate and market forecasts of a 2.3 percent gain.
Published on 2019-09-30

Spain Q2 GDP Growth Below Forecasts
Spain’s economy expanded 0.5 percent on quarter in the three months to June of 2019, easing from a 0.7 percent advance in the previous period and below market expectations of a 0.6 percent increase, a flash estimate showed. Household consumption and government expending slowed while fixed investment contracted and net trade contributed positively to growth.
Published on 2019-07-31

Spain Q1 GDP Growth Confirmed at 0.7%
Spain’s economy advanced 0.7 percent on quarter in the three months to March 2019, after a 0.6 percent expansion in the previous period and matching a preliminary reading and market expectations, final figures showed. It was the strongest growth rate since the fourth quarter of 2017, as fixed investment rebounded while both household and government spending expanded at the same pace.
Published on 2019-06-28

Spain Q1 GDP Growth Beats Forecasts
Spain’s economy advanced 0.7 percent on quarter in the three months to March 2019, following a 0.6 percent expansion in the previous period an above market consensus of a 0.6 percent increase, a flash estimate showed. It was the strongest growth rate since the last quarter of 2017, as fixed investment rebounded while net trade contributed negatively to the GDP growth.
Published on 2019-04-30

Spain Q4 GDP Growth Revised Lower to 0.6%
Spain's quarterly economic growth was revised lower to 0.6 percent in the last three months of 2018 from a preliminary estimate of 0.7 percent and compared to the July-September period's 0.5 percent. Net external demand contributed positively to the expansion, while household consumption rose at a softer pace and fixed investment contracted.
Published on 2019-03-29

Spain Economy Expands 0.7% in Q4
Spain’s economy advanced 0.7 percent on quarter in the three months to December 2018, following a 0.6 percent expansion in the previous period and above market consensus of 0.6 percent, a preliminary figure showed. It was the strongest growth rate since the last quarter of 2017, as government spending rose markedly and net trade contributed positively to the GDP growth. Considering 2018 as a whole, the gross domestic product expanded 2.5 percent, slowing from a 3.0 percent growth in 2017.
Published on 2019-01-31

Spain Q3 GDP Growth Confirmed at 0.6%
Spain's economy expanded 0.6 percent on quarter in the three months to September 2018, unrevised from the preliminary estimate and the same pace as in the previous period. Household consumption and fixed investment increased firmly, while net trade contributed negatively to the GDP growth. On an annual basis the economy grew by 2.4 percent, below the flash estimate of 2.5 percent, and down from 2.5 percent in the second quarter. This was the weakest growth rate since the last quarter of 2014.
Published on 2018-12-28

Spanish Economy Expands 0.6% in Q3
The Spanish economy grew by 0.6 percent on quarter in the three months to September 2018, the same pace as in the previous period and in line with market expectations, a preliminary estimate showed. Household consumption and fixed investment grew at a solid pace while net external demand contributed negatively to the GDP growth. On an annual basis, the GDP rose by 2.5 percent, unchanged from the previous quarter's three-and-a-half-year low and in line with market consensus.
Published on 2018-10-31

Spain Q2 GDP Growth Confirmed at 0.6%
The Spanish economy grew by 0.6 percent on quarter in the three months to June 2018, in line with the preliminary estimate and following a downwardly revised 0.6 percent expansion in the previous period. Fixed investment rose sharply while household consumption increased at a slower pace and net external demand contributed negatively to GDP growth. On an annual basis, the economy grew by 2.5 percent in the second quarter, below a preliminary estimate of 2.7 percent and the previous period's revised figure of 2.8 percent. It was the weakest growth rate since the last quarter of 2014.
Published on 2018-09-28

Spain GDP Growth Weakest Since 2014
The Spanish economy grew 0.6 percent on quarter in the three months to June 2018, easing from a 0.7 percent expansion in the previous period and below market expectations of 0.7 percent, the preliminary figure showed. It was the lowest growth rate since the second quarter of 2014.
Published on 2018-07-31