Spanish economic growth was slightly stronger than expected in 2023 as gross domestic product picked up pace at the end of last year, official data showed Tuesday.
The eurozone’s fourth largest economy increased by 0.6 percent between October and December, up from 0.4 percent in the previous quarter, on the backs of robust domestic and external demand, national statistics office INE said in a statement.
The economy grew by 2.5 percent during 2023 despite slowing growth elsewhere in Europe and rising interest rates, surpassing the government’s forecast of 2.4 percent.
By contrast, the eurozone economy expanded by 0.5 percent in 2023 and narrowly avoided a technical recession with zero growth in the fourth quarter, official data showed Tuesday.
The Bank of Spain last year revised upwards its growth forecast for the Spanish economy to 2.3 percent in 2023 after the country’s key tourism sector…
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