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. 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.

Spain GDP Growth Rate
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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.

It was the 20th straight quarter of solid growth after a five-year financial crisis that ended in 2013.

According to preliminary estimates, household consumption growth picked up to 0.6 percent in the third quarter from 0.1 percent in the previous period; and government spending expansion also accelerated to 0.8 percent from 0.1 percent. Meanwhile, gross fixed capital formation increased 1 percent in the three months to September after a 3.5 percent rise in the previous period, as investment in tangible fixed assets slowed (1.2 percent vs 4 percent in Q2), in particular construction (0.5 percent vs 2.2 percent), and machinery, equipment, weapon system and biological resources (2.2 percent vs 6.5 percent). Investment in intellectual property products dropped 0.2 percent after a 0.6 percent growth in Q2.

Exports slumped 1.8 percent (vs 0.2 percent in Q2) and imports fell at a softer 1.2 percent (vs 1 percent in Q2).

On the production side, services output growth picked up to 0.9 percent in the third quarter (vs 0.5 percent in Q2) while construction expansion eased to 1.4 percent (vs 1.8 percent in Q2). By contrast, industry output shrank 0.5 percent (vs 0.7 percent in Q2) due to a decline in manufacturing (-0.4 percent vs 1 percent in Q2).

On an annual basis, the GDP rose by 2.5 percent in the third quarter, unchanged from the previous period's three-and-a-half-year low and in line with market consensus.


INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/31/2018 8:23:12 AM


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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%


Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.60 1.60 -1.60 percent [+]
GDP Annual Growth Rate 2.50 2.50 5.60 -4.30 percent [+]
GDP 1311.32 1237.26 1635.02 12.07 USD Billion [+]
GDP Constant Prices 303017.00 299267.00 303017.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 65299.00 63383.00 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 7659.00 8049.00 8088.00 4136.00 EUR Million [+]
GDP From Construction 17705.00 16276.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 38725.00 39353.00 39353.00 18252.00 EUR Million [+]
GDP From Public Administration 49717.00 49137.00 49717.00 17370.00 EUR Million [+]
GDP From Services 200117.00 197230.00 200117.00 68153.00 EUR Million [+]
GDP From Transport 65754.00 63834.00 65754.00 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 November of 2018.

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




Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Netherlands 0.80 Jun/18
Canada 0.70 Jun/18
Japan 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Germany 0.50 Jun/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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