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

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Spain GDPSpain economy slows in Q3

Posted By: The Corner 23rd December 2022

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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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.