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Spanish GDP Lower in Q1

SPAIN DATA
MNI (London)

SPAIN Q1 FLASH GDP -0.5% Q/Q SA, -4.3% Y/Y WDA

SPAIN Q4 GDP UNREVISED 0.0% Q/Q; -8.9% Y/Y

  • Spanish economic growth declined by to 0.5% in Q1, in line with market expectations.
  • The first quarter was characterized by rising infection rates and renewed tight restrictions which weighed on economic activity.
  • The annual rate dropped by 4.3% in Q1after recording -8.9% in the previous quarter and showing the highest level since Q1 2020.
  • Q4 growth rates have been unrevised, showing a flat reading after Q3's sharp rebound.
  • Household consumption slowed to -1.0% in Q1 after a flat reading in Q4, reflecting the impact of the pandemic.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com

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