SPAIN'S ECONOMY REMAINED UNCHANGED IN THE FOURTH QUARTER
As the final INE statistics showed, the Spanish economy in October-December last year maintained the volume of the previous three months, while initially reported GDP growth of 0.4%. According to experts, the economic recovery was expected to be at the level of 0.4% after a record increase in GDP of 17.1% in the third quarter. As the report for October-December 2020 showed, consumer spending remained the same as in the previous three months. At the same time, the Spanish business increased its investment in fixed assets by 1% compared to the previous quarter. Government spending increased by 1.3%, as originally reported. At the same time, imports grew at a faster pace than exports during the quarter. Compared to October-December 2019, the Spanish economy recorded a decline of 8.9%, which is better than the initial estimate of a fall of 9.1%. Spain's GDP in 2020 fell by 10.8%, which is the maximum decline in the entire history of observations.