Spain’s GDP grew 3.2% year-on-year in the third quarter, easing from the 3.4% registered in the previous one. But consumption slowed on a year-on-year basis from 3.2% to 2.8%, while gross fixed capital formation also showed a significant deceleration from 3.6% to 3.1% in the third quarter from a year earlier.
Spanish domestic demand
BARCELONA | By Joan Tapia | The Spanish economy has come out of recession and citizens have begun to notice, encouraged by a slight increase in employment creation (albeit temporary, part-time and minimum wage employment, but it at least entails an increase in those joining the workforce). Thus, the CIS’ Economic Confidence Indicator –which ranges from 0 and 100, recorded a low 35.7 (although it represents a 16% increase with respect to 2013). For its part, the Consumer Confidence indicator –which is different and ranges from 0 and 200- is at 89.3, 22% higher than the data from September 2013. The trend appears to point to an awakening of domestic demand.