Spain'S Economic Growth Has Been Below 2% For The First Time Since 2014.

According to the National Bureau of statistics of Spain (INE), Spain's annual economic growth in the 2019 to the third quarter was only 1.9%, the first time since 2014 that it was less than 2% and did not reach the goal of 2% growth in the Spanish government's economic growth, according to the El Pa s. Although Spain's domestic economy is slowing and its economic growth is not as good as expected, its economic growth is still more than 2 times higher than that of other major European Union members.

Recalling the global economic and trade situation in 2019, including the US China trade war, the United Kingdom, Europe, the German industrial crisis and the tension in the Middle East, and other international factors all affected the economic growth of Spain. Although the inter annual economic growth of the western countries from 2019 to the third quarter was only 1.9%, household consumption, public administration expenditure and private investment were the main sources of domestic gross domestic product (GDP), 3 domestic demand accounted for 1.8%, and external demand contributed only 0.1%.

According to the National Bureau of statistics of Spain (INE), household consumption grew by 1.4% in the third quarter of 2019, compared with 1.6% in the same period in 2018, while household savings accounted for a negative growth of 1.3%, but still slightly increased compared with the negative 1.4 in 2018.