Latest data released by the National Statistics Institute - 29 January 2021

  • Prior (Q3) +16.4%
  • Q4 GDP -9.1% vs -10.8% y/y expected
  • Prior (Q3) -9.0%

Spain economic activity beat estimates to post a quarterly growth in the final quarter of last year, in what looks to be a one of the few bright spots of the euro area economy.

That said, even the French report earlier beat estimates and that might allude to the economic contraction suffered by most countries in the region during Q4 2020 may not be as bad as feared.

Concerns about a possible double-dip recession will still be floating around but this will ease some of those worries slightly for the time being.