Spain's economy grew by 2.0 percent on quarter in the three months to September 2021, the steepest pace of expansion in a year but below market expectations of 2.7 percent, a preliminary estimate showed. Fixed investment advanced 1.3 percent, recovering from a 2.2 percent contraction in the previous period, boosted by spending on machinery, equipment and weapon system. In addition, net external demand contributed positively to the GDP as exports jumped 6.4 percent and imports rose at a slower 0.7 percent. Household consumption, however, fell 0.5 percent, following a 4.7 percent surge in the second quarter. On a yearly basis, the economy grew by 2.7 percent, easing from a record 17.5 percent expansion in the previous period and missing forecasts of 3.5 percent. source: National Statistics Institute (INE)
GDP Growth Rate in Spain averaged 0.47 percent from 1995 until 2021, reaching an all time high of 16.80 percent in the third quarter of 2020 and a record low of -17.70 percent in the second quarter of 2020. This page provides the latest reported value for - Spain GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.
GDP Growth Rate in Spain is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.60 percent in 2023, according to our econometric models.