The Gross Domestic Product (GDP) in Spain expanded 0.50 percent in the second quarter of 2019 over the previous quarter. GDP Growth Rate in Spain averaged 0.54 percent from 1995 until 2019, reaching an all time high of 1.60 percent in the first quarter of 2000 and a record low of -2.60 percent in the first quarter of 2009.

GDP Growth Rate in Spain is expected to be 0.50 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 0.40 in 12 months time. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.30 percent in 2020, according to our econometric models.

Spain GDP Growth Rate
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-29 08:00 AM GDP Growth Rate QoQ Final Q4 0.6% 0.5% 0.7% 0.7%
2019-04-30 07:00 AM GDP Growth Rate QoQ Flash Q1 0.7% 0.6% 0.6% 0.6%
2019-06-28 07:00 AM GDP Growth Rate QoQ Final Q1 0.7% 0.6% 0.7% 0.7%
2019-07-31 07:00 AM GDP Growth Rate QoQ Flash Q2 0.5% 0.7% 0.6% 0.6%
2019-09-30 07:00 AM GDP Growth Rate QoQ Final Q2 0.7% 0.5%
2019-10-31 08:00 AM GDP Growth Rate QoQ Flash Q3 0.5%
2019-12-30 08:00 AM GDP Growth Rate QoQ Final Q3 0.5%

Spain Q2 GDP Growth Below Forecasts

Spain’s economy expanded 0.5 percent on quarter in the three months to June of 2019, easing from a 0.7 percent advance in the previous period and below market expectations of a 0.6 percent increase, a flash estimate showed. Household consumption and government expending slowed while fixed investment contracted and net trade contributed positively to growth.

According to preliminary estimates, household consumption rose 0.3 percent, slowing from a 0.4 percent in the prior quarter and government expenditure edged up 0.2 percent, after expanding 0.4 percent. In addition, fixed investment contracted 0.2 percent, down from a 1.4 percent rise, mainly due to investment in tangible fixed assets (-0.3 percent vs 1.9 percent), of which machinery, equipment, weapon system and biological resources (-2.5 percent vs 4.3 percent). On the other hand, investment in intellectual property products rebounded (0.5 percent vs -1.1 percent). 

Both exports (1.8 percent vs a flat reading) and imports (1 percent vs -0.3 percent) rebounded. 

On the production side, the industrial activity increased 0.3 percent in the three months to June, slowing from a 1.1 percent gain in Q1. Also, construction output rose 1.3 percent, below a 1.5 percent advance and the services output went up 0.4 percent, after a 0.8 percent growth. Meantime, the primary sector shrank 0.5 percent, less than a 2 percent contraction in Q2. 

On an annual basis, the GDP is expected to advance 2.3 percent in the second quarter of 2019, less than a 2.4 percent growth in the prior quarter and in line with market consensus.

INE | Agna Gabriel |
7/31/2019 7:54:11 AM

Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.50 1.60 -2.60 percent [+]
GDP Annual Growth Rate 2.10 2.10 5.40 -4.30 percent [+]
GDP 1426.19 1314.31 1635.02 12.07 USD Billion [+]
GDP Constant Prices 311064.00 305341.00 311064.00 112729.00 EUR Million [+]
Gross Fixed Capital Formation 62059.00 61449.00 81605.00 24607.00 EUR Million [+]
GDP per capita 33146.40 32402.70 33146.40 7359.97 USD [+]
GDP per capita PPP 35055.70 34269.10 35055.70 23758.70 USD [+]
GDP From Agriculture 8206.00 7966.00 8551.00 4189.00 EUR Million [+]
GDP From Construction 18266.00 17630.00 29289.00 9817.00 EUR Million [+]
GDP From Manufacturing 34138.00 33810.00 35997.00 18374.00 EUR Million [+]
GDP From Public Administration 50957.00 49795.00 50957.00 17194.00 EUR Million [+]
GDP From Services 212157.00 207749.00 212157.00 67946.00 EUR Million [+]
GDP From Transport 66777.00 65543.00 66777.00 25984.00 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.50 1.60 -2.60 1995 - 2019 percent Quarterly

Country Last Previous
Indonesia 4.20 Jun/19
South Africa 3.10 Jun/19
United States 2.00 Jun/19
China 1.60 Jun/19
Turkey 1.20 Jun/19
India 1.00 Jun/19
South Korea 1.00 Jun/19
Canada 0.90 Jun/19
Australia 0.50 Jun/19
Netherlands 0.50 Jun/19
Spain 0.50 Jun/19
Brazil 0.40 Jun/19
France 0.30 Jun/19
Japan 0.30 Jun/19
Switzerland 0.30 Jun/19
Euro Area 0.20 Jun/19
Italy 0.00 Jun/19
Mexico 0.00 Jun/19
Saudi Arabia 0.00 Mar/19
Germany -0.10 Jun/19
United Kingdom -0.20 Jun/19
Argentina -0.30 Jun/19
Russia -0.40 Mar/19
Singapore -3.30 Jun/19