Spain GDP Growth Accelerates Unexpectedly

(RTTNews) - Spain's economic growth accelerated unexpectedly in the fourth quarter, flash data from the statistical office INE revealed Tuesday.

Gross domestic product climbed 0.6 percent from the third quarter, when output was up 0.4 percent. GDP growth was forecast to ease to 0.2 percent.

On a yearly basis, economic growth improved to 2.0 percent from 1.9 percent in the preceding period. Economists had forecast GDP to expand at a slower pace of 1.5 percent. In the whole year of 2023, GDP growth came in at 2.5 percent. Nonetheless, this was weaker than the 5.8 percent expansion in 2022 and 6.4 percent growth in 2021.