Spain's gross domestic product shrank by 18.5 percent on quarter in the three months to June 2020, the steepest period of contraction on record and compared to market expectations of a 16.6 percent fall, a preliminary estimate showed. The contraction was triggered by one of Europe's strictest coronavirus lockdowns, which dragged the country to its steepest recession ever.
GDP Growth Rate in Spain averaged 0.29 percent from 1995 until 2020, reaching an all time high of 1.60 percent in the first quarter of 2000 and a record low of -18.50 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 August of 2020. source: National Statistics Institute (INE)
GDP Growth Rate in Spain is expected to be 7.80 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 1.70 in 12 months time. In the long-term, the Spain GDP Growth Rate is projected to trend around 1.00 percent in 2021 and 0.60 percent in 2022, according to our econometric models.