Spain Economy Contracts 0.5% in Q1

The Gross Domestic Product generated by the Spanish economy in the first quarter 2013 registered a variation of -0.5% compared to the previous quarter, according to the flash estimate of quarterly GDP. This rate was three tenths higher than that registered in the previous quarter (-0.8 percent)

The gross domestic product shrank 0.5 percent on a quarterly basis in the January to March period, the seventh straight quarter of contractions, according to preliminary data released by the National Statistics Office. 

The GDP annual variation in the fourth quarter 2013 was -2.0 percent, as compared to the -1.9 percent registered in the fourth quarter of 2012. This result was basically caused by a more negative contribution in the domestic demand, which was compensated partially by a positive contribution of the external demand. 

INE | Nuno Fontes |
4/30/2013 9:12:40 AM