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Spanish Economy Grows More Than Expected In Q4


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Spain’s economy expanded more than expected in the final three months of 2022, underpinned mainly by state spending, while investments shrunk, preliminary figures from the statistical office INE showed Friday.
Gross domestic product, or GDP, grew 0.2 percent from the previous quarter, when the economy grew 0.2 percent, which was revised from 0.1 percent. Economists had expected growth of 0.1 percent.

The Spanish economy expanded for a consecutive third quarter.
On a year-on-year basis, GDP rose 2.7 percent in the fourth quarter following 4.8 percent expansion in the previous three months, which was revised from 4.4 percent. Economists were looking for 2.2 percent growth.

For the whole year 2022, GDP growth was 5.5 percent, same as in 2021. The economy grew for a second year in a row after an 11.3 percent slump in the Covid-hit year 2020.

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