Spain GDP Growth Steady At 0.8% As Estimated

(RTTNews) - Spain's economy logged a steady growth as initially estimated in the fourth quarter, the statistical office INE said Wednesday.

Gross domestic product expanded 0.8 percent on a sequential basis, the same rate of growth as seen in the third quarter. The rate also matched preliminary estimate released on January 29.

On the expenditure-side, household final consumption expenditure moved up 1.0 percent and public administration expenditure by 0.3 percent. At the same time, gross capital formation increased 2.9 percent.

Exports of goods and services posted a quarter-on-quarter growth rate of 0.1 percent. Imports registered a robust growth of 1.4 percent.

On a yearly basis, the economy grew 3.4 percent compared to 3.3 percent expansion in the previous quarter. The fourth quarter rate was revised down from the initial estimate of 3.5 percent.

In 2024, GDP expanded 3.2 percent, as initially estimated, after rising 2.7 percent in 2023, data showed.