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Financial News: Spain Economic Growth Improves In Q4, Tops Expectations

Spain Economic Growth Improves In Q4, Tops Expectations

01/31/2020 - 04:28:00 (RTTNews)

(RTTNews) - Spain's economic growth rate improved in the fourth quarter and topped economists' expectations, partly led by exports, preliminary figures from the statistical office INE showed on Friday.

Gross domestic product grew 0.5 percent from the third quarter, when the economy expanded 0.4 percent. Economists had expected the pace of growth to remain unchanged.

In the first and second quarters, the economy grew 0.5 percent and 0.4 percent, respectively.

On a year-on-year basis, the Spanish GDP increased 1.8 percent after a 1.9 percent growth in the previous quarter. Economists had forecast 1.7 percent growth.

The full year growth for 2019 was 2 percent versus 2.4 percent in 2018. The pace of growth was the slowest since 2014, when the economy grew 1.4 percent.

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