Spain GDP


Spain: Preliminary data show economy records largest expansion in 8 years in Q1

April 30, 2015

GDP expanded a seasonally-adjusted 0.9% in Q1 2015 over the previous quarter, according to preliminary data released by the National Statistics Office (INE) on 30 April. The expansion was above Q4 2014’s 0.7% rise and the 0.8% the market’s had expected. In addition, Q1’s print marked the largest expansion since Q1 2007.

On an annual basis, GDP expanded 2.6% in Q1, which represented an improvement over the 2.0% increase recorded in the previous quarter and marked the largest expansion since Q2 2008. The National Statistics Office (INE) will release more detailed data on 28 May.

The Central Bank expects the economy to grow 2.8% in 2015 and 2.7% in 2016. FocusEconomics Consensus Forecast panelists expect GDP to expand 2.4% in 2015, which is up 0.1 percentage points from last month’s forecast. In 2016, panelists expect the economy to expand 2.3%.

Author: Angela Bouzanis, Senior Economist

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Spain GDP Chart

Spain GDP Q1 2015

Note: Quarter-on-quarter changes of seasonally-adjusted GDP and year-on-year variation in %
Source: Statistical Institute (INE) and FocusEconomics calculations.

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