Spain: Preliminary data show economy records largest expansion in over 7 years in Q4 2014
January 30, 2015
GDP expanded a seasonally-adjusted 0.7% in Q4 2014 over the previous quarter according to preliminary data released by the National Statistics Office (INE) on 30 January. The expansion was above Q3’s 0.5% rise and the 0.6% estimate reported in the Bank of Spain’s Quarterly Report from 18 December. In addition, Q4’s print marked the largest expansion since Q4 2007.
On an annual basis, GDP expanded 1.4% in Q4, which represented an improvement over the 1.6% 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 26 February.
In the full year 2014, GDP expanded 2.0%, which contrasted 2013’s 1.2% contraction. The result marked the first year of growth since 2008.