Spain GDP Growth Confirmed at 0.8% in Q4

Spain’s GDP grew by 0.8% in the fourth quarter of 2025, in line with previous estimates and slightly accelerating from 0.6% in Q3. Growth was mainly driven by domestic demand, which contributed 0.9 percentage points, while external demand slightly reduced growth by -0.1 points. Household consumption rose by 0.9% and public spending by 0.2%, while investment (gross capital formation) increased notably by 1.9%. Exports grew 0.8%, improving significantly from the prior quarter, whereas imports rose 1.2%. On the supply side, all major sectors showed stable or positive performance. Industry grew 0.3%, though manufacturing slowed to 0.1%. Construction was the strongest sector, expanding by 2.2%, and services increased by 0.9%. Primary sectors remained flat after a previous decline. Year-on-year, GDP rose by 2.7%, maintaining the same pace as the previous quarter.

Spain’s economy grew by a strong 0.8% quarter on quarter in the final three months of 2025, marking its fastest pace of growth in a year and accelerating from 0.6% in the previous quarter, preliminary estimates showed. The result also beat market expectations, which had pointed to a more modest 0.6% expansion. The data highlight Spain’s resilience at a time when global trade tensions, reignited by Donald Trump, have been weighing on other economies. On an annual basis, GDP rose 2.6%, slightly slower than the 2.7% recorded in the third quarter and just below forecasts of 2.7%, suggesting some moderation but still solid momentum. For the whole of 2025, the economy expanded by 2.8%, clearly outperforming most Euro Area peers. This continued outperformance has been supported by a booming tourism sector, favourable energy conditions and strong household spending, with domestic consumption once again playing a central role in driving growth.

Spain’s gross domestic product grew 0.6% quarter-on-quarter in Q3 2025, easing from a downwardly revised 0.7% expansion in Q2, in line with preliminary estimates. External trade contributed negatively to growth, as exports declined (-0.6% vs 1.4% in Q2) and imports increased (1.3% vs 2%). On the other hand, household consumption (1.1% vs 0.8%), public investment (1.3% vs flat reading), and fixed investment (2.1% vs 1.8%) rose faster. Q3 figures confirm Spain’s continued outperformance within the Euro Area, underpinned by sustained strength in tourism, favorable energy dynamics, and firm domestic consumption.