FX.co ★ Spain GDP Growth Confirmed at 0.6% in Q1

In the first quarter of 2025, Spain's economy experienced a 0.6% growth compared to the previous quarter. This aligns with preliminary estimates but is a touch lower than the 0.7% growth seen in the last quarter of 2024. The growth was fueled by domestic demand, contributing 0.5 percentage points, and external demand, contributing 0.1 points. On the expenditure front, household consumption and gross fixed capital formation increased by 0.6% and 0.9%, respectively. Exports saw an increase of 1.7% while imports went up by 1.6%, yet government consumption experienced a 0.4% decline. From the production perspective, the industrial sector advanced by 1%, with manufacturing specifically growing by 0.8%. Services improved by 0.2%, construction by 0.4%, and the primary sector showed a significant increase of 8.2%. On a year-over-year basis, the GDP rose by 2.8%, consistent with the preliminary forecasts but slightly below the 3.3% growth recorded in the fourth quarter of 2024.