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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SPAIN DATA
MNI (London)
SPAIN Q4 FLASH GDP +0.2% Q/Q (FCST +0.1%); Q3 +0.2%r Q/Q (PREV +0.1%)
SPAIN Q4 FLASH GDP +2.7% Y/Y (FCST +2.2%); Q3 +4.8%r Y/Y (PREV +4.4%)
- Spanish flash GDP for Q4 grew +0.2% q/q, 0.1pp above expectations, holding pace with Q3 and implying a winter recession has likley been avoided.
- On the year, the Spanish economy advanced by +2.7%, slowing from +4.8% y/y in Q3.
- As such, Spain continues to generate confidence for eurozone growth outlooks, adding to evidence of the bloc having experienced a more shallow contraction than initially expected at the back end of 2022. France, Germany, Italy and the Eurozone aggregate are all due Tuesday (Jan 31)
- Yet the -1.8% q/q slide in household consumption highlights continuing concerns regarding demand.
- Upwards contributions came from a solid +4.3% q/q boost from agriculture alongside a -4.2% q/q decline in imports led by lower energy imports.
- Revised previous results are largely due to changes in the revision process. The Spanish Statistics Institute flagged that Q4 provisional data is based on substantially less information than regular quarterly flash estimates.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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