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FX.co ★ Spain Economic Growth Unrevised At 0.3%

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typeContent_19130:::2023-12-22T11:47:00

Spain Economic Growth Unrevised At 0.3%

Spain's economy expanded as initially estimated in the third quarter, the latest data from the statistical office INE showed on Friday.

Gross domestic product advanced 0.3 percent sequentially, following the second quarter's 0.4 percent growth. That was in line with the flash data published on October 27.

On a yearly basis, economic growth eased to 1.8 percent from 2.0 percent a quarter ago, as estimated.

On the expenditure side, household spending grew at an accelerated pace of 1.4 percent over the quarter after a 0.8 percent gain. Meanwhile, growth in government spending rose at a stable rate of 1.3 percent.

Gross fixed capital formation was down 0.6 percent, in contrast to the 1.8 percent rise in the second quarter.

Exports of goods and services decreased 4.1 percent after a 3.0 percent drop. Likewise, the fall in imports deepened to 2.9 percent from 2.1 percent.

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