Spanish GDP Growth Slows to 0.8% in Q3

The Spanish economy advanced 0.8 percent on quarter in the three months to September 2015, easing from an 8-year high expansion of 1 percent in the previous period and in line with market expectations, according to preliminary estimates.

The economy posted its ninth consecutive quarter of growth, but the pace of acceleration has slowed.

Year-on-year, the GDP expanded 3.4 percent in the third quarter of 2015, accelerating from a 3.1 percent increase in the previous period, also matching forecasts and reaching the highest annual growth rate since the last quarter of 2007. 

Tourism revenues have been contributing strongly to the country's recovery since its real estate bubble popped in 2008. Over the first nine months of 2015, tourists spent €53.8 billion in the economy (+6.3 percent compared to the same period of 2014).

Spanish GDP Growth Slows to 0.8% in Q3

Joana Ferreira |
10/30/2015 9:00:13 AM