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May 6, 2014

Spain’s GDP grows

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According to official data, Spain's GDP grew by 0.6 %in the interannual indicators, which is the first increase in this indicator since 2011.

The National Institute of Statistics (INE) of Spain confirms the GDP growth at 0.4% till March 2014, and the annual rate increases, which were announced earlier by the Bank of Spain.

National Statistics Institute of Spain (INE) confirmed the information that the Bank of Spain has published last week that the Spanish economy has accelerated its recovery in the first quarter of 2014, showing an increase in gross domestic product (GDP ) by 0.4 % , in two tenths higher than that achieved in the last quarter of 2013 of 0.2%.

According to the quarterly national economic and accounting data published by Statistics Institute, the annual rate of development of the Spanish economy behaved better than expected, and is up 0.6 % vs. 0.5%, as previously predicted the Bank of Spain , showing its first positive trend after 10 consecutive months of negative results.

Together with the quarterly GDP growth in the period from January to March 2014 , the Spanish economy for the past three consecutive quarters shows the positive performance and demonstrates the accelerated pace of development and recovery. Meanwhile, the interannual rate of the Spanish economy ( 0.6 %) in the first quarter of 2014 is in eight-tenths more than in the fourth quarter of 2013, when gross domestic product fell by 0.2%.

The National Statistics Institute of Spain (INE) also informed that the annual growth of GDP at the beginning of 2014 was due primarily to improve the contribution of domestic demand, which, in turn, partially offset by the deterioration in external demand .

Statistical data are still provisional and the details will be announced on May 29, 2014 . Currently , the Bank of Spain , in his official last newsletter , stressed that the Spanish economy during the first quarter 2014, maintained itself on the way f “gradual recovery ” in the context in which was recorded the “normalization” of the financial markets and “gradual strengthening and improvement ” of the labor market .

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