Articles tagged as: gross domestic product

May 19th, 2014

The eurozone economy grew by 0.2% in the first quarter of the year compared with the previous quarter, while in the European Union (EU) it increased by 0.3%, according to the first estimates published on Thursday by the European Commissions’s statistical office, Eurostat. Year-on-year, compared with the same quarter of ...

Continue reading GDP up 0.2% in the Eurozone and 0.3% in the EU

November 4th, 2013

Officially, the Spanish economy is not in recession. On Wednesday the National Statistics Institute published the flash estimate of gross domestic product (GDP) figures for the third quarter of 2013, and confirmed what the Bank of Spain had already announced: that the GDP increased by 0.1% between June and September, ...

Continue reading Spain Out of Recession as GDP Grows by 0.1%

October 14th, 2013

The Spanish Government stated in the 2014 Budget that Spain’s Gross Domestic Product (GDP) will grow by 0.7% - a figure that has been described as "prudent" by the Prime Minister, Mariano Rajoy. The International Monetary Fund (IMF), however, believes that these estimates are too optimistic. In their latest 'Global ...

Continue reading IMF Revises 2014 Forecasts for Spain

September 12th, 2013

American multinational financial services corporation, Morgan Stanley, said they believe that the Spanish economy is at a turning point and could return to the path of positive growth in the third quarter of this year, allowing it to beat growth expectations for next year, which they forecast to expand by ...

Continue reading Morgan Stanley Predicts 0.8% Growth for Spain in 2014

June 20th, 2013

In a recent announcement, reported in El Mundo, the Foundation of Savings Banks (Funcas) predicted that the Spanish economy will contract by 1.5% this year and grow by 0.7% in 2014, which is one- and two-tenths percentage points more, respectively, compared to their previous forecast. Funcas attributes this modification to the ...

Continue reading Funcas Improves Forecasts for Economic Recovery

May 20th, 2013

The recession in the eurozone has eased off as, between January and March of this year, the gross domestic product fell by 0.2% compared to the 0.6% decline recorded between October and December 2012. This latest figure marks an accumulation of four consecutive quarters of declines in the eurozone. According to ...

Continue reading Eurozone Recession Slows After GDP Falls by 0.2%

March 20th, 2013

The Spanish Government’s entire public administration debt increased by 20.1% in 2012 compared to the previous year, and amounted to 884,416 million euros, which is equivalent to 84.1% of the gross domestic product (GDP), and the highest level of the entire historical series. In 2011, this figure was 736,468 million ...

Continue reading Spanish Government Debt Hit a Record 84.1% of GDP in 2012

March 8th, 2013

The statistical office of the European Union (Eurostat) confirmed this week that the eurozone economy contracted by 0.6% in the fourth quarter of 2012, compared with the previous three months. Year-on-year, the gross domestic product (GDP) fell by 0.9%, which is in line with the first estimate and forecasts of the ...

Continue reading Eurozone GDP Fell 0.6% in Fourth Quarter of 2012

January 29th, 2013

The Spanish Minister of Economy and Competitiveness, Luis De Guindos, has expressed his view that the Spanish economy will stabilise in the third quarter of 2013 after a "very long" crisis and that the Gross Domestic Product will start to grow again from the fourth quarter of the year. In a ...

Continue reading De Guindos Optimistic Over Growth of Spanish Economy

January 15th, 2013

The sharp decline experienced in housing prices since early 2008, estimated by experts to be more than 30% on average, has not prevented the value of homes being much higher today than in 2001. According to an analysis by the independent value experts, Euroval, from the official Ministry of Development ...

Continue reading Houses Worth 66% More Than in 2001

December 21st, 2012

Even in the midst of the current crisis, Spanish tourism has continued to exercise its role as a reliable economic engine. The weight of the sector's activity in Spain, measured by means of final tourist demand, stood at 10.8% of the Gross Domestic Product (GDP) in 2011, which is four ...

Continue reading Spanish Tourism Sector Continues to Grow

November 19th, 2012

According to the National Statistics Institute’s report on the Quarterly National Accounts of Spain released yesterday, the Gross Domestic Product (GDP) generated by the Spanish economy in the third quarter registered a decline of 1.6% over the same period last year, while quarter-on-quarter it contracted by 0.3%. This data matches the ...

Continue reading Spanish Economy Contracted by 0.3% in Third Quarter

November 19th, 2012

According to data released on Thursday by the European Union Statistical Office, Eurostat, the Gross Domestic Product (GDP) in the eurozone fell 0.1% in the third quarter of the year compared to the previous three months, when the fall was 0.2%. Spain shrank by 0.3% in the third quarter due ...

Continue reading Eurozone GDP Shrinks 0.1% in Q3 and into Recession

September 25th, 2012

Internet access is already a reality for 32.5% of the world’s population, according to a report released on Monday by the UN, which lists Iceland, Norway, the Netherlands, Sweden, Luxembourg and Denmark as the only countries with more than 90% of their inhabitants connected to the network. In the International Telecommunications ...

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August 21st, 2012

According to Moody's latest macroeconomic forecasts, the Spanish economy will contract by between 0.5% and 1.5% in 2013, a drop that will be added to the estimated decline of between 1.5% and 2% this year. The risk measurement agency warns that the weakness of eurozone economies, and the differences between ...

Continue reading Moody’s Predicts Spanish Economy Will Contract by 1.5% in 2013