Spain GDP Growth Rate

The Gross Domestic Product (GDP) in Spain expanded 0.20 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Spain is reported by the National Statistics Institute (INE). GDP Growth Rate in Spain averaged 0.51 Percent from 1995 until 2013, reaching an all time high of 1.53 Percent in the fourth quarter of 1997 and a record low of -1.60 Percent in the first quarter of 2009. Spain is the fourth largest economy in the Euro Zone. The country has a strong and diverse manufacturing industry and is one of the biggest tourist destinations in the world. Spain is part of the European Union since 1986 and the Euro Area since 1999. As a result, Spain became one of the world’s leading destinations for foreign direct investment and its economy grew an average 0.9 percent every quarter from 1994 through 2008. However, in the third quarter of 2008, following the burst of a housing market bubble the country plunged into recession and has been striving to recover ever since. This page provides - Spain GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.20 0.10 1.53 -1.60 0.17 | 2014/03 1995 - 2013 Percent Quarterly


Spain GDP Growth Rate

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-10-30 08:00 AM Spain
GDP Growth Rate QoQ - Preliminary
Q3 2013 0.1% -0.1% 0.1% 0.1%
2013-11-28 08:00 AM Spain
GDP Growth Rate QoQ F.
Q3 2013 0.1% -0.1% 0.1% 0.1%
2014-01-30 08:00 AM Spain
GDP Growth Rate QoQ Flash
Q4 2013 0.3% 0.1% 0.3% 0.3%
2014-02-27 08:00 AM Spain
GDP Growth Rate QoQ Final
Q4 2013 0.2% 0.1% 0.3% 0.3%
2014-04-30 08:00 AM Spain
GDP Growth Rate QoQ
Q1 2014 0.2% 0.17%
2014-07-30 08:00 AM Spain
GDP Growth Rate QoQ
Q2 2014 0.52%

GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 25250.64 2012-12-31 25638.13 27136.09 6158.89 24696.77 2014-06-30 USD [+]
GDP per capita PPP 32701.45 2011-12-31 31889.18 33157.01 6846.75 34745.62 2014-06-30 USD [+]
GDP Constant Prices 93.42 2013-11-15 93.26 100.68 63.74 92.62 2014-06-30 Index Points [+]
Gross Fixed Capital Formation 64.97 2013-11-15 64.53 106.45 50.60 64.78 2014-03-31 Index Points [+]
GDP Growth Rate 0.20 2013-12-31 0.10 1.53 -1.60 0.17 2014-03-31 Percent [+]
GDP Annual Growth Rate -0.20 2013-12-31 -1.10 5.80 -4.40 -1.16 2014-03-31 Percent [+]
GDP 1349.40 2012-12-31 1476.90 1593.40 12.10 1223.67 2014-06-30 USD Billion [+]

Spanish Q4 GDP Growth Revised Down

In the last three months of 2013, the Spanish economy expanded 0.2 percent over the previous period, down from a 0.3 percent growth initially estimated. Still, Q4 economic growth was slightly faster than the 0.1 percent expansion recorded in the third quarter.

Household consumption rose 0.5 percent over the previous quarter, the same recorded in the previous three-month period, boosted by higher payrolls.

Government consumption fell 3.9 percent, after expanding by 0.6 percent in the previous quarter. 

Gross fixed capital formation rose at the same pace recorded in the previous quarter (0.7 percent). Construction investment shrank at a slower 0.1 percent.

While exports accelerated in the last quarter of 2013 and rose 0.8 percent (0.6 percent in the previous quarter), imports contracted 0.6 percent after recording positive growth rates in the last two quarters. 

Compared with the same quarter of 2012, the economy contracted 0.2 percent, down from a preliminary estimate of 0.1 percent contraction. 

In 2013, the economy contracted at a slower 1.22 percent over a year earlier, slightly better than 1.64 percent contraction in 2012.

Joana Taborda |
2/27/2014 9:47:50 AM


Spanish Economy Accelerates in Q4 2013
In the fourth quarter of 2013, Spanish GDP expanded at a stronger 0.3 percent over the previous quarter, matching initial estimates released earlier by the Minister of Economy and the central bank. It is the strongest expansion in almost six years, confirming two consecutive quarters of economic growth. Published on 2014-01-30

Spanish Economy Expands 0.3% in Q4
Spain GDP is likely to grew at its fastest pace in almost six years in the last quarter of 2013, Minister of Economy Luis de Guindos told parliament on January 13th. Published on 2014-01-13

GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Spanish Inflation Rate Falls Less Than Expected  
Spanish consumer prices fell by an annual 0.1 percent in March of 2014, less than a preliminary estimate of a 0.2 percent drop and compared to a flat reading in February.
Spanish Inflation Rate Falls to 4-1/2-Year Low  
Spanish consumer prices fell 0.2 percent on the year in March of 2014, according to preliminary estimates. It is the lowest rate since October of 2009.
Spanish Trade Deficit Narrows in January over a Year Earlier  
In January of 2014, Spanish trade gap decreased 19.5 percent over a year earlier to € 2.81 billion. In contrast, the trade deficit widened 54 percent over December, as imports surged, signaling a recovery in domestic demand.
Spain Inflation Rate Down to 4-Month Low  
Spanish consumer prices stayed flat year-on-year in February of 2014, compared to a rise of 0.2 percent a month earlier and a preliminary estimate of a 0.1 percent fall.
Spanish Inflation Rate in Negative Territory  
In February of 2014, Spanish annual inflation rate is expected to fall 0.1 percent, preliminary data from the National Statistics Institute showed. It is the first time since October last year prices have fallen.
Spanish Q4 GDP Growth Revised Down  
In the last three months of 2013, the Spanish economy expanded 0.2 percent over the previous period, down from a 0.3 percent growth initially estimated. Still, Q4 economic growth was slightly faster than the 0.1 percent expansion recorded in the third quarter.
Spanish Trade Deficit Narrows 48.1% in 2013  
In 2013, Spanish trade deficit narrowed to € 15.96 billion, as exports hit a new record for the third straight year and imports fell. In 2012, the trade deficit was recorded at € 32 billion.
Spanish Inflation Slowdown Confirmed in January  
In the first month of 2014, Spain’s annual inflation rate slowed to 0.2 percent, one tenth lower than the rate registered in the previous month. This is the lowest rate for the month of January since the series started in 1961.
Spanish Inflation Rate Slows in January  
In January of 2014, Spanish national CPI eased to 0.2 percent, down from 0.3 percent in the last month of 2013, remaining well below European Central Bank target.


US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
US Markit Manufacturing PMI Steady in April  
At 55.4 in April, the Markit Flash U.S. Manufacturing PMI was down fractionally from 55.5 in March, but still well above the neutral 50.0 value. Sharper rates of output and new business growth boosted the Manufacturing PMI during April, while the main negative influence on the headline index was a rise in the suppliers’ delivery times component.
Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.
Hong Kong Unemployment Rate Unchanged in March  
Hong Kong’ seasonally adjusted jobless rate remained steady at 3.1 percent for the third consecutive period in January to March of 2014, down from 3.5 percent a year earlier.
Hong Kong Inflation Rate Unchanged in March  
Hong Kong annual consumer prices rose 3.9 percent in March of 2014, the same rate recorded in February. In the first quarter of 2014, the inflation rate rose by 4.2 percent over a year earlier. The corresponding increase after netting out the effects of all Government's one-off relief measures was 3.8 percent.
China Cuts Reserve Ratio for Rural Banks  
The People's Bank of China decided to cut the reserve requirement ratio by 2 percentage points for rural commercial banks and by 0.5 percentage point for rural credit cooperatives, aiming to stimulate growth in some parts of the country. The cut will be effective from April 25th, 2014.

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