Spain's quarterly economic growth was revised lower to 0.6 percent in the last three months of 2018 from a preliminary estimate of 0.7 percent and compared to the July-September period's 0.5 percent. Net external demand contributed positively to the expansion, while household consumption rose at a softer pace and fixed investment contracted. 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.

GDP Growth Rate in Spain is expected to be 0.60 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 0.50 in 12 months time. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.

Spain GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
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% 0.6%
2019-01-31 08:00 AM GDP Growth Rate QoQ Flash 0.7% 0.6% 0.7% 0.6%
2019-03-29 08:00 AM GDP Growth Rate QoQ Final 0.6% 0.5% 0.7% 0.7%
2019-04-30 07:00 AM GDP Growth Rate QoQ Flash 0.6% 0.6%
2019-06-28 07:00 AM GDP Growth Rate QoQ Final 0.6% 0.6%
2019-07-31 07:00 AM GDP Growth Rate QoQ Flash 0.5%



Spain Q4 GDP Growth Revised Lower to 0.6%

Spain's quarterly economic growth was revised lower to 0.6 percent in the last three months of 2018 from a preliminary estimate of 0.7 percent and compared to the July-September period's 0.5 percent. Net external demand contributed positively to the expansion, while household consumption rose at a softer pace and fixed investment contracted.

Exports surged 0.7 percent in the fourth quarter (vs -0.8 percent in Q3) while imports were unchanged (vs -0.9 percent in Q3).

Household consumption growth eased to 0.4 percent from 0.6 percent in the previous period; and government spending expansion also slowed to 0.4 percent from 0.8 percent. Meanwhile, fixed investment shrank 0.2 percent (vs 0.2 percent in Q3), as investment in tangible fixed assets dropped (-0.3 percent vs 0.2 percent in Q3) led by machinery, equipment, weapon system and biological resources (-2.7 percent vs -0.3 percent). Investment in intellectual property products, however, advanced 0.5 percent in the fourth quarter, after a 0.3 percent gain in the previous three-month period.

On the production side, services output growth was unchanged at 0.8 percent in the fourth quarter while construction expansion eased to 1 percent from 1.9 percent. By contrast, industry output continued to contract (-1 percent vs -0.3 percent in Q3) due to a decline in manufacturing (-0.3 percent vs -0.4 percent). Agriculture activity rebounded sharply (4.6 percent vs -3.6 percent).

On an annual basis the economy grew by 2.3 percent in the three months to December, also below a flash estimate of 2.4 percent, and down from a revised 2.5 percent in the third quarter. This was the weakest growth rate since the last quarter of 2014.

Considering 2018 full year, Spain's economy grew 2.6 percent, compared to a 3.0 percent expansion in 2017. Spain's Government forecasts 2019 GDP growth at 2.2 percent.


INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/29/2019 8:47:42 AM



Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.50 1.60 -1.60 percent [+]
GDP Annual Growth Rate 2.30 2.50 5.60 -4.30 percent [+]
GDP 1311.32 1237.26 1635.02 12.07 USD Billion [+]
GDP Constant Prices 306236.00 303220.00 306236.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 65288.00 64965.00 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 7982.00 7636.00 8220.00 4136.00 EUR Million [+]
GDP From Construction 18390.00 17946.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 38008.00 38239.00 38468.00 18252.00 EUR Million [+]
GDP From Public Administration 49963.00 49506.00 49963.00 17370.00 EUR Million [+]
GDP From Services 202156.00 199899.00 202156.00 68153.00 EUR Million [+]
GDP From Transport 66054.00 65273.00 66054.00 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.50 1.60 -1.60 1995 - 2018 percent Quarterly




Country Last Previous
United States 2.20 Dec/18
Singapore 2.00 Mar/19
India 1.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.40 Mar/19
South Africa 1.40 Dec/18
Russia 0.80 Dec/18
Spain 0.60 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
South Korea -0.30 Mar/19
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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