The Spanish economy grew 1.4% in 2014, one tenth more than expected by the government, while GDP growth accelerated in the fourth quarter last year and increased by 0.7%, the leading indicator released today by the National Statistics Institute (INE).
This data, to be confirmed on February 26 when the quarterly national accounts published, is the first real growth of the Spanish economy after five years of recession and in 2010 the rate of GDP stagnated at 0%.
The rise of 1.4% in 2014 contrasts with the fall of 1.2% recorded GDP in 2013 .
The increase of 0.7% of GDP in the last quarter on quarter 2014 reflects that the Spanish economy has accelerated its growth two tenths more than the previous quarter increased by six quarters and chains consecutive increases.
The advance figure by the INE coincides with the last estimate by the Bank of Spain that economic recovery based on strong domestic demand and increased competitiveness.
On the other hand, economic growth last year is the highest rate of increase since 2007, when it made 1.4%, three tenths more than in 2008.
According to statistics INE, GDP fell 1.2% in 2013, 2.1% in 2012, 0.6% in 2011, stagnated at 0% in 2010 and dropped 3.6% in 2009.
On the other hand, the price index in Spain fell 1.4% year on year in January and sharpens the decline that lasted for seven consecutive months, the leading indicator released today by the National Statistics Institute ( INE).
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