Spain’s economy grew 0.3% in last quarter

Spanish GDP rose by 0.3% in the final three months of 2013, accelerating from the 0.1% expansion recorded in the third quarter,the Instituto Nacional de Estadistica (INE) revealed.

The figures confirm that Spain is putting its long recession behind itOn an annual basis, GDP was down by 0.1%, while the Spanish economy still shrank by 1.3% during the year.

The GDP annual variation in the fourth quarter 2013 was -0.1%, as compared to the -1.1% registered in the third quarter.

“This result was basically caused by a less negative contribution in the domestic demand, and a positive, though diminishing ,contribution of the external demand,” INE also said.

However, by temporary aggregation of the four quarters, the real growth in GDP in the whole of the year 2013 was estimated at -1.2%.

Close Window
View the Magazine

You need to fill all required fields!