Spain's economy grew by 2.3 percent on an annual basis in the three months to December 2019, 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, the 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. GDP Annual Growth Rate in Spain averaged 2.22 percent from 1996 until 2018, reaching an all time high of 5.60 percent in the first quarter of 2000 and a record low of -4.30 percent in the second quarter of 2009.
GDP Annual Growth Rate in Spain is expected to be 2.30 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 2.10 in 12 months time. In the long-term, the Spain GDP Annual Growth Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.