Spain GDP Growth Rate  1995-2016 | Data | Chart | Calendar | Forecast

The Spanish economy advanced 0.7 percent on quarter in the three months to September of 2016, easing slightly from a 0.8 percent growth in the previous period and in line with preliminary estimate. It was the twelfth straight quarter of growth, but the weakest reading since the fourth quarter of 2014, as household consumption and fixed investment grew at a slower pace while government spending rebounded and net external demand contributed positively. Compared to the same period of previous year, the GDP advanced 3.2 percent. GDP Growth Rate in Spain averaged 0.53 percent from 1995 until 2016, 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.

Spain GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-08-25 07:00 AM Q2 0.8% 0.8% 0.7% 0.7%
2016-10-28 07:00 AM Q3 0.7% 0.8% 0.7% 0.7%
2016-11-24 08:00 AM Q3 0.7% 0.8% 0.7% 0.7%
2017-01-30 08:00 AM Q4
2017-02-24 08:00 AM Q4
2017-04-28 07:00 AM Q1




Spain GDP Growth Rate Slows to 0.7% in Q3


The Spanish economy advanced 0.7 percent on quarter in the three months to September of 2016, easing slightly from a 0.8 percent growth in the previous period and in line with preliminary estimate. It was the twelfth straight quarter of growth, but the weakest reading since the fourth quarter of 2014, as household consumption and fixed investment grew at a slower pace while government spending rebounded and net external demand contributed positively. Compared to the same period of previous year, the GDP advanced 3.2 percent.

On a quarterly basis, household spending expanded 0.6 percent, slowing from a 0.7 percent gain in the previous period and gross fixed capital formation edged up 0.1 percent, following a 1.1 percent rise in the second quarter. Investment in equipment and goods went up 0.3 percent (+1.9 percent in Q2) and construction increased 0.2 percent (+0.5 percent in Q2) while intellectual property shrank 0.7 percent (+1.3 percent in Q2). Meanwhile, government spending rebounded sharply by 1 percent, the fastest since the first quarter of 2015, following a 0.6 percent contraction in the second quarter.

Net external demand contributed positively, as exports fell 1.3 percent (+3.1 percent in Q3), while imports declined at a much faster 1.8 percent (+2 percent in Q2).

On a yearly basis, the economy expanded 3.2 percent, down from 3.4 percent in the second quarter but matching preliminary estimates. 

INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/24/2016 8:27:15 AM



Spain GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 0.80 1.60 -1.60 percent [+]
GDP Annual Growth Rate 3.20 3.40 5.60 -4.30 percent [+]
GDP 1199.06 1381.34 1634.99 12.07 USD Billion [+]
GDP Constant Prices 279626.00 277843.00 280470.00 112208.00 EUR Million [+]
Gross Fixed Capital Formation 55860.00 55606.00 85511.00 24923.00 EUR Million [+]
GDP per capita 30587.55 29595.08 32461.85 7360.40 USD [+]
GDP per capita PPP 32814.45 31749.72 34825.21 24112.20 USD [+]
GDP From Agriculture 6270.00 6394.00 7306.00 4136.00 EUR Million [+]
GDP From Construction 14134.00 14014.00 28879.00 9683.00 EUR Million [+]
GDP From Manufacturing 36037.00 35929.00 37838.00 18252.00 EUR Million [+]
GDP From Public Administration 48232.00 47932.00 48232.00 17370.00 EUR Million [+]
GDP From Services 188083.00 187140.00 188083.00 68153.00 EUR Million [+]
GDP From Transport 59282.00 58928.00 59282.00 26080.00 EUR Million [+]



Spain GDP Growth Rate Notes

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. However, in the third quarter of 2008, following the burst of a housing market bubble the country plunged into recession and has only starting to recover in the middle of 2013. The economic crisis gave rise to very high losses in output and employment, as nearly one quarter of the active population has been unemployed for the last 5 years. On the expenditure side, household consumption is the main component of GDP accounting for 58 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (19 percent). Within investments, tangible fixed assets accounts for 16 percent of GDP; construction for 10 percent; capital goods for 7 percent; and intellectual property products for 3 percent. Exports of goods and services account for 33 percent of GDP while imports account for 30 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.80 1.60 -1.60 1995 - 2016 percent Quarterly



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