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3.8%
- According to the first estimate for Q1 2023, GDP growth gathered pace compared to the previous quarter, with a quarterly increase of 0.5% versus 0.4% in Q4 2022 (after being revised 2 percentage points upwards). In year-on-year terms, growth rose to 3.8%, versus 2.9% in the previous quarter.
www.caixabankresearch.com/en/economics-markets/recent-developments/spanish-economy-concludes-strong-first-quarter
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QNAS - Quarter 1 2023 (2/14) Main results • The Spanish GDP registered a variation of 0.6% in the first quarter of 2023 compared to the previous quarter. This rate is one tenth higher than that recorded during the fourth quarter, and one tenth higher than the one advanced on 28 April.
In addition, persistent high inflation and the monetary tightening process launched at the end of 2021, whose full effects on activity may lag by 18-24 months (Banco de España, 2023), point to the pace of growth of euro area GDP slowing slightly in 2023 H2.
Recent economic performance in Spain According to the revised quarterly national accounts, Spanish GDP recovered pre-pandemic levels in the first quarter of 2023, having increased by 0.6% from the previous quarter. The fourth quarter 2022 growth figure was revised upwards to 0.5%.
Mar 29, 2024 · In the final quarter of 2023, the Spanish economy advanced at 0.6% annual pace, following a 0.4% expansion in the preceding period. This growth surge was predominantly powered by resilient...
Spain implemented sizable measures to cushion the impact of the pandemic and of the inflationary shock after Russia’s war of aggression against Ukraine. The economy has held up well, but public debt, which was already high, has increased because of the pandemic, making it urgent to step up the pace of fiscal consolidation.
This section describes the key features of the most recent update to the Banco de España’s macroeconomic projections for the Spanish economy, the final version of which was completed in early March, before the appearance of tensions on the international financial markets.
