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

Spanish Q4 GDP Growth Revised Down