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Spanish GDP Stronger Than Expected in Q4

SPAIN DATA
MNI (London)

SPAIN Q4 FLASH GDP +0.4% Q/Q SA, -9.1% Y/Y WDA

SPAIN Q3 GDP UNREVISED +16.4% Q/Q; -9.0% Y/Y

  • Spanish economic growth decelerated to 0.4% in Q4 as the second wave of Covid-19 hit the country, but outpaced expectations looking for a modest decline.
  • The annual rate deteriorated slightly to -9.1% after recording -9.0% in the previous quarter.
  • Over the year of 2020, GDP will be 11.0% lower than in 2019.
  • Q3 growth rates have been unrevised, showing a strong rebound after Q2's severe fall.
  • Household consumption slowed to 2.5% in Q4 after growing by 20.8% in Q3.
  • Government consumption increased 4.0% in Q4 after rising by 1.2% in the previous quarter.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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