Spanish economy slows as GDP grows a mere 0.1% in Q3

Spain GDPSpain economy slows in Q3

CdM | Spanish GDP grew a mere 0.1% in July-September, which is 1.9 percentage points lower than in the previous three-month period, according to the National Statistics Institute (INE). The revised GDP data is one-tenth of a percentage point lower than the preliminary reading of 0.2% growth published two months ago.

Year-on-year growth in the third quarter was 4.4%, compared to 7.6% in the previous quarater, but up from a preliminary reading of 3.8%.

Final data for the third quarter showed weakness of domestic demand, with the contribution of this component to year-on-year GDP growth standing at 0.9 percentage points, 1.6 percentage points lower than in the second quarter.

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