Analysis This is how Spain has dodged a recession that was taken for granted: the correction of the INE, cheaper energy and a surprising end of the year
The Spanish economy registered a growth of
5.5% in the whole of 2022 and emulated the evolution of 2021
despite the economic and social consequences of the war in Ukraine, according to the advance of National Accounts data published this Friday by the Institute National Statistics Office (INE), which indicates that GDP grew by 0.2% in the last quarter.
In this way, the auguries of both the Government and the main national and international organizations
are fulfilled, and the objective set by the Executive in the 2022 General State Budget (PGE) is more than fulfilled
, when it estimated that the economy would grow 4.4%.
All this, despite the Russian invasion of Ukraine and its effects on the European economy.
The rise in energy prices and inflation have marked the year at an economic level and have slowed down economic growth
.
However, they have not prevented GDP from advancing by 0.1% and 0.2% in the third and fourth quarters, respectively.
In year-on-year terms
, the variation in GDP in the last three months of the year was 2.7%, a lower rate than the previous quarter,
when it was 4.8%.
The contribution of national demand to the interannual growth of the GDP was 0.6 points, 1.6 points lower than that of the previous quarter.
The number of hours actually worked decreased by 0.1% compared to the third quarter, one tenth less than in the previous quarter.
In year-on-year terms, the number of hours actually worked fell five tenths, to 2.7%.
According to the criteria of The Trust Project
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