Spain GDP Grows Unexpectedly In Q4


Spain’s economy logged an unexpected growth in the fourth quarter, preliminary data from the statistical office INE revealed Friday.

Gross domestic product grew 0.4 percent sequentially, confounding expectations for a decline of 1.5 percent. However, growth was much slower than the 16.4 percent increase posted in the third quarter.

The expenditure-side breakdown showed that household spending growth eased to 2.5 percent from 20.8 percent. Meanwhile, government spending rose 4 percent, faster than the 1.2 percent increase seen a quarter ago.

Gross capital formation declined 6.2 percent, following a 20.4 percent rise. Exports slid 1.4 percent, while imports advanced 0.4 percent.

On a yearly basis, GDP fell 9.1 percent versus a 9 percent decrease in the third quarter and -21.6 percent in the second quarter.

In the whole year of 2020, GDP decreased 11 percent, in contrast to 2 percent rise in 2019.

The material has been provided by InstaForex Company –


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