Spanish Q4 GDP growth likely supported by robust domestic demand: Societe Generale

Quotes from Societe Generale Cross Asset Research:

-Spanish GDP grew by 0.7% qoq in Q4 thanks to strong domestic demand. Both household consumption and fixed investment helped maintain the strong momentum seen in Q3 and Q2 (around 1% qoq), while exports decelerated.

-Overall, net exports were a small drag on growth in Q4. Private consumption is expected to remain robust thanks to lower oil prices, tax cuts, and improving labour-market conditions. Investment is likely to slow as a result of rising political uncertainties given the heavy 2015 political agenda.