Spain’s stats institute revises up 2021 economic growth to 5.5%
2022.09.15 07:05
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© Reuters. FILE PHOTO: The Four Towers business district skyline is seen at sunset in Madrid, Spain November 18, 2017. REUTERS/Paul Hanna
MADRID (Reuters) – The Spanish statistics institute on Thursday revised the 2021 gross domestic product’s growth rate to 5.5% up from an original 5.1% after computing the year’s final data.
The INE, as the institute is known, also revised the 2020 data, when restrictions related to the COVID-19 pandemic impacted economic activity, to a 11.3% contraction down from 10.8%.
The contraction in 2020 was the deepest on record, while the revised rebound in 2021, at 5.5%, was still slower than the government’s initial target of 6.5%.
INE is due to release an update of second quarter GDP growth data on Sept. 23.
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