Spain's quarterly economic growth was revised higher to 1.5 percent in the second quarter of 2022, from a preliminary estimate of 1.1 percent and compared with a 0.2 percent contraction in the previous three-month period. Household consumption grew by 1.2 percent, after a 1.2 percent decline in the first quarter, while fixed investment advanced 2.5 percent, easing from a 3.3 percent increase. Investment in tangible fixed assets expanded by 2.9 percent, mainly supported by a 6.5 percent jump in spending on housing and construction. Finally, net external demand contributed positively to the GDP, as exports rose 4.9 percent and imports were up at a slower 2.8 percent. On an annual basis the economy expanded a revised 6.8 percent in the second quarter up from 6.3 percent previously released. source: National Statistics Institute (INE)
GDP Growth Rate in Spain averaged 0.49 percent from 1995 until 2022, reaching an all time high of 16.60 percent in the third quarter of 2020 and a record low of -17.80 percent in the second quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
GDP Growth Rate in Spain is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.50 percent in 2023, according to our econometric models.