Spain's 2012 growth figures revised down
George Mills · 28 Aug 2013, 09:51
Published: 28 Aug 2013 09:51 GMT+02:00
- 'Time for the credit to flow' to Spanish SMEs (26 Aug 13)
- Export boom set to erase Spain's trade deficit (22 Aug 13)
The INE on Tuesday reported that Spain's GDP growth in 2012 was not –1.4 percent as previously reported, but actually –1.6 percent.
The lower growth figure was the result of slacker internal demand, the INE said.
This demand dropped 4.1 percent in 2012, a figure previously reported as falling 3.9 percent.
The revised figures come in the wake of new accounting methods introduced by the INE.
Figures for exports in 2012, meanwhile, have now dropped from the previously reported 3.1 percent to 2.1 percent.
Under the new measures, household spending dropped 2.8 percent and not 2.1 percent as previously reported.