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. GDP Growth Rate in Spain averaged 0.55 percent from 1995 until 2018, reaching an all time high of 1.60 percent in the first quarter of 2000 and a record low of -1.60 percent in the first quarter of 2009.

GDP Growth Rate in Spain is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Spain to stand at 0.50 in 12 months time. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.

Spain GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-07-31 07:00 AM GDP Growth Rate QoQ Flash 0.6% 0.7% 0.6% 0.6%
2018-09-28 07:00 AM GDP Growth Rate QoQ Final 0.6% 0.6% 0.6% 0.6%
2018-10-31 08:00 AM GDP Growth Rate QoQ Flash 0.6% 0.6% 0.6% 0.6%
2018-12-28 08:00 AM GDP Growth Rate QoQ Final 0.6% 0.6% 0.6% 0.6%
2019-01-31 08:00 AM GDP Growth Rate QoQ Flash 0.6% 0.6%
2019-03-29 08:00 AM GDP Growth Rate QoQ Final 0.6% 0.6%
2019-04-30 07:00 AM GDP Growth Rate QoQ Flash



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.

Household consumption surged 0.8 percent in the third quarter after being unchanged in the previous period; and government spending expansion accelerated to 0.8 percent from 0.2 percent. Meanwhile, fixed investment growth slowed sharply to 0.8 percent from 3 percent in the second quarter, as investment in tangible fixed assets eased (0.9 percent vs 3.4 percent in Q2), in particular construction (1 percent vs 1.7 percent), and machinery, equipment, weapon system and biological resources (0.8 percent vs 5.8 percent). Investment in intellectual property products advanced 0.4 percent in the third quarter, the same pace as in the previous three-month period.

Exports slumped 0.9 percent (vs 0.3 percent in Q2) and imports fell at a softer 0.2 percent (vs 0.7 percent in Q2).

On the production side, services output growth picked up to 0.8 percent in the third quarter (vs 0.6 percent in Q2) while construction expansion was unchanged at 1.6 percent. By contrast, industry output shrank 0.2 percent (vs 0.3 percent in Q2) due to a decline in manufacturing (-0.4 percent vs 0.6 percent in Q2); and agriculture activity contracted 3.4 percent (vs 0.5 percent in Q2).

On an annual basis the economy grew by 2.4 percent in the three months to September, below a 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.


INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/28/2018 8:28:55 AM



Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.60 1.60 -1.60 percent [+]
GDP Annual Growth Rate 2.40 2.50 5.60 -4.30 percent [+]
GDP 1311.32 1237.26 1635.02 12.07 USD Billion [+]
GDP Constant Prices 302695.00 300404.00 302695.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 65024.00 64051.00 85511.00 24923.00 EUR Million [+]
GDP per capita 32405.75 31505.61 32459.92 7359.97 USD [+]
GDP per capita PPP 34272.36 33320.37 34329.65 23758.73 USD [+]
GDP From Agriculture 7499.00 7981.00 8220.00 4136.00 EUR Million [+]
GDP From Construction 17713.00 17452.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 38333.00 38355.00 38355.00 18252.00 EUR Million [+]
GDP From Public Administration 49354.00 48889.00 49354.00 17370.00 EUR Million [+]
GDP From Services 200131.00 197988.00 200131.00 68153.00 EUR Million [+]
GDP From Transport 65304.00 64996.00 65304.00 26080.00 EUR Million [+]


Spain GDP Growth Rate

Spain is the fourth largest economy in the Euro Zone and the fifth biggest economy in the European Union. The country has a strong and diverse manufacturing industry and is one of the biggest tourist destinations in the world. On the expenditure side, household consumption is the main component of Spain's GDP (58 percent), followed by gross fixed capital formation (21 percent) and government expenditure (18 percent). Within investments, tangible fixed assets account for 18 percent of GDP, including construction (10 percent) and machinery, equipment and weapon system (7 percent); and intellectual property products account for the remaining 3 percent. Exports of goods and services account for 34 percent of GDP while imports account for 31 percent, adding 3 percent of total GDP. 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 - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.60 1.60 -1.60 1995 - 2018 percent Quarterly




Country Last Previous
United States 3.40 Sep/18
Indonesia 3.09 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Singapore 1.60 Dec/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
Australia 0.30 Sep/18
France 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Argentina -0.70 Sep/18
Turkey -1.10 Sep/18


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