Overview
- Quarterly growth eased from 0.8% in Q2 to 0.6% in Q3, with year-on-year growth moderating to 2.8%.
- Domestic demand added 1.2 percentage points to quarterly GDP, while the external sector subtracted 0.6 points.
- Household consumption grew 1.2% on the quarter, government spending rose 1.1%, and investment increased 1.7% q/q and 7.6% y/y.
- Exports fell 0.6% in the quarter after several gains, as import growth slowed to 1.1%.
- The Economy Ministry noted a ninth consecutive quarter of at least 0.6% q/q growth and cited the IMF’s 2.9% forecast for Spain in 2025.