The Spanish economy grew 3.2% in 2024, according to the progress of GDP published today by the National Statistics Institute (INE). The data is A tenth above estimates that both the International Monetary Fund and the Bank of Spain foreseen.
This good result remains for a year in which employment maintained the pull, with 501,952 new affiliates throughout the course, and after a fourth quarter in which private consumption evolved positively (with an increase of 1%) and the Investment accelerated at the highest pace in the last three years, at 2.8%.
This confirms that Spain continues to lead growth in the euro zone, at a rhythm four times higher than the Eurozone. From there, we must bear in mind that our country came from experiencing the worst contraction during the crisis by COVID-19, to a large extent due to the effect of the tourist hill in a country in which this sector weighs 13%. In 2020 GDP recorded a 11.3%decrease, The greatest fall within the EU. For this reason, experts warn that these good data are partly explained by the rebound effect, and that to take full photography, they must be compared, for example, with per capita income and productivity, which has long since presented little results flattering.
The Ministry of Economy has taken little to react to these data, highlighting the Importance of national demandwith a contribution of 2.8 points to economic growth, higher than more than 1 point than the previous year, and the good behavior of the foreign sector, which contributed four tenths to the annual growth.
As has already advanced, in the fourth quarter the growth kept the pull with 0.8%, similar rate to that registered in the previous quarter.
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