On December 23, the National Institute of Statistics reviewed Spain’s 2022 GDP growth, having already reviewed it in September and October. After all the revisions, two points were added to the growth of the first semester and 0.6 to that of the third quarter.
Now, the statistics give a preview of GDP in 4Q22, which would have grown by +0.2%, with which growth for the year as a whole would have been, according to the INE, 5.5%, although a sharp drop is observed between the first and the second semester: 2.2% (quarter over previous quarter) in the second and only +0.2% in the 3Q and 4Q.
It is striking that since last summer when the Government changed the president of the INE (appointed by Pedro Sánchez at the beginning of his term), the new president has repeatedly revised, and upwards, the figures that the previous president had provided. And that, since then, government ministers have stopped complaining about the methodology and practices of the INE.
