Figures from the Contabilidad Nacional, a survey run by the National Statistics Institute, show that we should not be too optimistic yet and that getting out of the financial crisis is not going to be easy. In Q4 2013, Spain's GDP increased by a mere 0.2%. This was a tenth of a point less than experts hoped.
While the economy continues to improve, the rate of improvement is slight. As imports pick up, exports need to increase even more to make sure that overall GDP growth increases. There are doubts about whether good export data results from falling domestic spending or solid foreign sales. Reduced investments in manufacturing equipment suggests that the recovery is happening slowly in some sectors. Ultimately, small improvements are not a great reason for grand celebrations.
