2018.03.0107:02:00UTC+00Spain's Q4 GDP Growth Steady At 0.7%

Spain's economy grew as initially estimated in the fourth quarter, data from the statistical office INE showed Thursday.

Gross domestic product grew 0.7 percent sequentially, the same rate as seen in the third quarter and in line with the estimate published on January 30. However, the rate for third quarter was revised down from 0.8 percent.

On a yearly basis, GDP growth remained unchanged at 3.1 percent in the fourth quarter, as previously estimated.

Confirming the advance estimate, GDP growth slowed to 3.1 percent in 2017 from 3.3 percent in 2016.

Elsewhere, Purchasing Managers' survey from IHS Markit showed that growth momentum in the manufacturing sector improved in February, with both output and new orders rising at faster rates.

Linked to this were further sharp increases in employment and purchasing activity, survey revealed.

The headline manufacturing Purchasing Managers' Index rose to 56.0 in February from 55.2 in January. A score above 50 indicates expansion.