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Financial News: Spain Economic Growth Accelerates As Estimated

Spain Economic Growth Accelerates As Estimated

03/26/2024 - 04:39:00 (RTTNews)

(RTTNews) - Spain's economic growth improved at the end of the year, as initially estimated, final data from the statistical office INE showed on Tuesday.

Gross domestic product grew 0.6 percent from the third quarter, when output was up 0.4 percent. The rate came in line with the estimate published on January 30.

On a yearly basis, economic growth improved to 2.0 percent, as estimated, from 1.9 percent in the preceding period.

On the expenditure-side, household consumption gained 0.2 percent sequentially and government spending moved up 1.0 percent. Gross capital formation posted an increase of 0.6 percent.

Exports and imports of goods and services increased 2.7 percent and 2.5 percent, respectively.

In the whole year of 2023, GDP registered an expansion of 2.5 percent, weaker than the 5.8 percent growth seen in 2022.

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