Spain GDP Growth Confirmed At 0.5% in Q3

The Spanish economy advanced 0.5 percent on quarter in the three months to September, unchanged from the preliminary estimate and driven by domestic demand.

Domestic demand contributed 2.5 points to growth, up from 2.2 points in the previous quarter. The negative contribution from foreign demand held steady at 0.9 points.

On a quarter-on-quarter seasonally adjusted basis, household consumption rose 0.8 percent, slowing slightly from a 0.9 percent increase in the previous period. Government expenditure advanced 0.1 percent, recovering from a 0.1 percent drop in the three months to June and exports rose 3.5 percent (1.3 percent in Q2). Imports surged 4.7 percent (2.6 percent in Q2) while gross fixed capital formation grew 1 percent, following a 1.7 percent rise in the previous quarter.

Year-on-year, the economy advanced 1.6 percent, the highest pace in six years.

In the second quarter of 2014, the GDP grew a revised 0.5 percent quarter-on-quarter and 1.3 percent year-on-year. 

Spain GDP Growth Confirmed At 0.5% in Q3

Joana Taborda |
11/27/2014 3:16:29 PM