Spanish GDP Expands More Than Estimated In Q3

Spain’s economic growth accelerated more than initially estimated in the third quarter, revised data from the statistical office INE showed on Thursday.

Gross domestic product grew 2.6 percent sequentially, bigger than the initial estimate of 2.0 percent and also faster than the 1.2 percent expansion logged in the second quarter.

On a yearly basis, economic growth eased to 3.4 percent from 17.7 percent in the preceding quarter. The third quarter growth rate was revised up from 2.7 percent estimated on October 29.

The expenditure-side breakdown showed that household spending rose 1.0 percent and government expenditure was up 0.5 percent from the second quarter.

Gross fixed capital formation advanced 1.2 percent. At the same time, exports and imports advanced 7.1 percent and 2.2 percent, respectively.

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