Spain's gross domestic product shrank 0.5 percent on quarter in the three months to March 2021, after being unchanged in the previous period and in line with market expectations, a preliminary estimate showed. The country has imposed restrictions to combat the spread of COVID-19, leading to declines in both consumption expenditure (-1.0 percent vs 0.0 percent) and investment (-1.9 percent vs 1.0 percent). source: National Statistics Institute (INE)
GDP Growth Rate in Spain averaged 0.45 percent from 1995 until 2021, reaching an all time high of 17.10 percent in the third quarter of 2020 and a record low of -17.80 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 May of 2021.
GDP Growth Rate in Spain is expected to be 0.80 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 0.90 in 12 months time. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.60 percent in 2023, according to our econometric models.