Daniel Viaña Madrid
Madrid
Updated Tuesday, January 30, 2024-09:06
The Spanish economy grew by 2.5% last year, a figure that
exceeds all the forecasts
of the main organizations. It even exceeds that of the Government, which estimated a rebound of 2.4%, which seemed too optimistic but which, in the end, has even fallen short.
The advance National Accounting data for the fourth quarter that the National Institute of Statistics (INE) published this Tuesday confirms this, while showing that the economy accelerated in the fourth quarter
with a rebound of 0.6%
compared to the summer months.
"In the last quarter, the pulse of our economy was maintained with a growth of 0.6% compared to the previous quarter, and this is very important because it places it at a very advantageous starting point to be able to meet our 2% objective in 2024. ", assessed the Minister of Economy, Carlos Body, to which he added that Spain will be "
the large economy that grows the most
not only in 2023 but also in 2024."
That figure of 2% is, again, too optimistic when compared to the rest of the forecasts. In the recent Funcas panel, a figure of 1.6% is estimated, which is the same figure reported by the Bank of Spain. But, certainly, the higher growth data for 2023
will cause an upward revision of the estimates.
In its analysis, Economía highlights that the main drivers of growth have been "private consumption based on a good evolution of the purchasing power of households", as well as "the good performance of the labor market,
with the creation of 780,000 jobs in 2023.
"
Likewise, Body highlights "the very
positive evolution of exports
based on the recovery of the competitiveness of our companies."