Spain Q4 GDP Growth Confirmed at 0.7%

The Spanish economy grew by 0.7 percent on quarter in the three months to December 2017, in line with the preliminary estimate and following a downwardly revised 0.7 percent expansion in the previous period.
INE | Joana Ferreira | 3/1/2018 8:22:06 AM
It was the 17th straight quarter of growth after a five-year financial crisis that ended in 2013.

On the expenditure side, net external demand contributed positively to GDP growth as exports rose 0.3 percent (vs 0.6 percent in Q3) while imports were unchanged from the previous period (vs 1 percent in Q3).

Gross fixed capital formation increased 0.7 percent after a 1.4 percent rise in the third quarter, as investment in intellectual property prducts dropped 0.5 percent (vs 1.7 percent in Q3) while that in equipment goods went up at a slower 0.9 percent (vs 2.8 percent in Q3). Meanwhile, investment in construction rose faster (1 percent vs 0.2 percent in Q3). Household consumption grew 0.6 percent, compared with 0.7 percent in the previous period; and government spending rose 0.4 percent, the same pace as in the third quarter.

On the production side, services sector growth eased to 0.4 percent from 0.7 percent in the previous three-month period, while output expanded at faster rate for both industry (1.8 percent vs 0.6 percent in Q3) and construction (1.5 percent vs 1.1 percent).

On an annual basis, the economy grew by 3.1 percent in the fourth quarter, unchanged from the previous period and in line with earlier estimates.

In 2017, the economy expanded by 3.1 percent after a revised annual growth rate of 3.3 percent in 2016.

Spain Q4 GDP Growth Confirmed at 0.7%