FX.co ★ Spain Q4 GDP Growth Rate Confirmed at 0.8%

In the final quarter of 2024, the Spanish economy experienced a 0.8% quarter-on-quarter growth, consistent with preliminary estimates and mirroring the growth rate of the third quarter. This expansion saw domestic demand contributing 1.2 percentage points, offset by a 0.4 percentage point deduction from external demand. Household consumption increased by 1%, accompanied by a 0.3% rise in public spending. Investment surged by 2.9%. Exports posted a modest growth of 0.1%, while imports saw a significant rise of 1.4%. Positive growth was observed across all major sectors, with the exception of primary industries. The industrial sector grew by 0.3%, with manufacturing growth accelerating to 0.5%. The construction sector expanded by 2.7%, while the services sector sustained a growth rate of 1.0%. However, primary industries witnessed a decline of 0.7%, following a 1.4% increase in the previous quarter. On an annual scale, the GDP grew by 3.4%, slightly below the earlier estimates of 3.5%. In 2024, Spain's economy expanded by 3.2%, surpassing the performance of other Eurozone economies.