Economic growth remains steady in first quarter, GDP rises by 0.7%

The Spanish economy continued its growth in the first quarter of the year with a 0.7% increase in Gross Domestic Product (GDP). This positive trend was confirmed by the National Institute of Statistics (INE), surpassing expectations from the Bank of Spain and BBVA Research. The Interannual rate also showed a strong rebound of 2.4%, the highest figure in the past year.

The INE revised slightly upwards the data for the fourth quarter of the previous year, indicating a 0.7% growth instead of the previously estimated 0.6%. These data suggest that the Spanish economy is performing better than previously estimated by experts.

Official forecasts from the government predict a 2% growth for the year, while other research services estimate between 1.9% and 2.1%. The President of the Executive and the Minister of Economy both celebrated these positive figures, highlighting the growth in jobs and the strong dynamism of the Spanish economy in uncertain times.

The minister emphasized the growth in investment, household consumption, and exports as key factors contributing to the positive performance of the Spanish economy. The data confirms Spain’s differential growth with respect to other euro zone economies, positioning it well for the future growth targets.

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