Spain's National Statistics Institute (INE) on Friday revised the country's 2024 gross domestic product growth rate upward to 3.5% from an original 3.2% after computing final data. INE also revised
Spain's stats institute revises 2024 GDP growth up to 3.5%
Spain's Economic Outlook for 2024
Spain's National Statistics Institute (INE) on Friday revised the country's 2024 gross domestic product growth rate upward to 3.5% from an original 3.2% after computing final data.
Revisions to GDP Growth Rates
INE also revised the 2023 annual GDP growth data down to 2.5% growth from a previous 2.7% and revised its 2022 data up to an expansion of 6.4% from a prior 6.2%.
Comparison with Euro Zone Peers
The Spanish economy has consistently outpaced its euro zone peers in recent years.
Sovereign Credit Rating Upgrade
On Tuesday, the government raised its 2025 growth forecast to 2.7% from 2.6%, considerably higher than Germany's estimated 0.2% expansion and France's 0.6% forecast.
Las week, S&P Global raised Spain's long-term sovereign credit rating to "A+" from "A", citing a private sector-driven improvement in the country's external finances, supported by high savings and robust exports.
(Reporting by Joao Manuel Mauricio and Javi West Larrañaga, editing by Inti Landauro and David Latona)
