Gross (GDP) of Spain domestic product grew 1.4 percent in 2014, mainly due to the improvement in domestic consumption and investment, confirmed today the National Institute of Statistics (INE).
In a statement, the agency under the Ministry of Economy and Finance said that in the fourth quarter of 2014 the economy grew 0.7 percent, two tenths higher than the 0.5 percent in the third quarter.
He noted that in annual terms, employment rose in the fourth quarter at a rate of 2.4 percent, higher than the estimated seven in the third tenths, representing an increase of approximately 392,000 jobs.
Domestic demand, the INE stressed that both final consumption expenditure and investment in fixed capital have a higher annual rate than that recorded in the third quarter of 2014.
The final consumption expenditure of households grew 3.4 percent, higher than six tenths third quarter, reflecting a general improvement in the behavior of most of its components.
The final consumption expenditure of general government fell 0.5 percent, eight less than the previous quarter, while investment in intellectual property products grew 3.1 percent, three tenths less than the previous quarter.
Investment in construction assets improved two points and three tenths annual rate, which rose from 0.1 percent to 2.4 percent, reflecting better performance both investment in housing and civil engineering and other buildings.
The demand for capital equipment assets presents a growth of 10.4 percent in the fourth quarter, up from 10.2 percent the previous quarter.
He added that increased investment in transport equipment assets was 21.3 percent, more intense than that recorded by investment in machinery was 6.3 percent.
Jram
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