Spain's gross domestic product shrank 0.4 percent on quarter in January-March 2021, slightly less than previous estimates of a 0.5 percent contraction, after remaining unchanged in the previous three-month period. The economy fell back into contraction during that period, as the tightening of restrictions amid another wave of Covid-19 infections led to declines in both consumption expenditure (-0.6 percent vs 0.0 percent in Q4) and investment (-0.8 percent vs 1.0 percent). source: National Statistics Institute (INE)
GDP Growth Rate in Spain averaged 0.45 percent from 1995 until 2021, reaching an all time high of 17.10 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 July of 2021.
GDP Growth Rate in Spain is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Spain to stand at 1.10 in 12 months time. In the long-term, the Spain GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.60 percent in 2023, according to our econometric models.