Spain's economy shrank by a record 22.1 percent year-on-year in the second quarter of 2020, entering a steep recession and compared to market expectations of a 19.7 percent fall, a preliminary estimate showed, as coronavirus-induced lockdowns hit activity and consumption.
GDP Annual Growth Rate in Spain averaged 1.86 percent from 1996 until 2020, reaching an all time high of 5.40 percent in the first quarter of 2000 and a record low of -22.10 percent in the second quarter of 2020. This page provides the latest reported value for - Spain GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: National Statistics Institute (INE)
GDP Annual Growth Rate in Spain is expected to be -9.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Spain to stand at 14.50 in 12 months time. In the long-term, the Spain GDP Annual Growth Rate is projected to trend around 4.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.