Spain GDP Growth Confirmed at 0.4% in Q1

The Spanish economy advanced 0.4 percent quarter-on-quarter in the first three months of 2014, unchanged from the preliminary estimate. It is the third consecutive increase and the fastest in six years, as a rebound in domestic demand was enough to offset a drop in exports.

On the expenditure side, household consumption advanced 0.4 percent quarter-on-quarter and government expenditure surged 4.4 percent, following last quarter’s 3.9 percent fall. Gross fixed capital formation shrank 0.6 percent, mainly due to a 3.3 percent drop in construction investment. Exports fell 0.3 percent, following three consecutive quarters of growth, while imports advanced 1.5 percent.

On the production side, agriculture recorded the highest growth rate (3.2 percent), followed by financial and insurance activities (2.6 percent) and artistic and recreational activities (2.4 percent). Meanwhile, construction fell 2.6 percent, real estate activities dropped 2.1 percent and industrial production fell 0.5 percent.

Year-on-year, the economy advanced 0.5 percent in the first three months of 2014, down from a 0.6 percent preliminary estimate. 

Spain GDP Growth Confirmed at 0.4% in Q1

Joana Taborda |
5/29/2014 10:58:46 AM