Spanish Q1 economic growth slows to 0.2% q/q, 6.3% y/y, data shows By Reuters

Spread the love

© Reuters. FILE PHOTO: A picture shows the skyline of Madrid, Spain, June 7, 2016. REUTERS/Andrea Comas

(Reuters) -The Spanish economy grew 0.2% in the first quarter of 2022, slowing from a 2.2% growth rate in the last three months of 2021, final official data showed on Friday.

On an annual basis the economy expanded 6.3%, after rising 5.5% in the fourth quarter of 2021, statistics agency INE said.

The growth rate was a whisker below a preliminary reading released by INE at the end of April that had shown output expanding 0.3% from the previous quarter and 6.4% from the first quarter of 2021.

Earlier this month, the Bank of Spain lowered its growth forecast for the full year to 4.1% from 4.5%, taking into account the impact of Russia’s invasion of Ukraine and pressure on economic activity earlier in the year stemming from the Omicron variant of COVID-19.

Spain’s economy rebounded 5.1% in 2021 from a pandemic-induced slump of -10.8% in 2020.

Source link

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x

Get Registered For FREE Forex Training!

Fill In Your Details To Get Registered For FREE Forex Training!

Do You Know About Forex Trading?(Required)
Have you done Forex Trading before?(Required)
Where did you hear about us?(Required)