Spanish Economy Posts 0.5% Growth in Q3

The Spanish GDP advanced 0.5 percent quarter-on-quarter in the three months to September of 2014. Preliminary estimates showed the economy grew for the fifth quarter in a row in line with market expectations but down from a 0.6 percent increase in the previous period.

Flash figures published by the statistical office match central bank estimates earlier released. The Bank of Spain said last week domestic demand increased 0.6 percent, while net external demand contributed negatively to growth.

Year-on-year, the economy advanced 1.6 percent, the highest growth rate in more than six years. 

Third quarter GDP estimates were computed using the new European System of Accounts 2010 (ESA 2010) introduced by the Eurostat. The new measure takes into account activities such as research and development spending and expenditure on weapon systems that were not included before.

Spanish Economy Posts 0.5% Growth in Q3

Joana Taborda |
10/30/2014 9:00:27 AM