Spain economic growth ebbs to 0.6% in third quarter, below forecast
Spain's economic growth slowed in the third quarter of the year, a preliminary reading showed on Wednesday.
According to an estimate from INE, Spain's gross domestic product grew 0.6% quarter-on-quarter in the three months to September. The pace of growth eased from 0.8% in the second quarter. In the first three months of the year, GDP had risen by 0.5%.
The latest reading fell short of an FXStreet cited forecast, which had predicted 0.7% growth.
Year-on-year, Spain's economic growth slowed to 2.8% in the third quarter, from 3.0% in the second. In the first quarter, GDP was 3.1% higher.
The third quarter reading represented the tamest pace of annual GDP growth in Spain since the final quarter of 2023.
Separate numbers from INE showed retail sales rose 4.2% annually on a seasonally and calendar-adjusted basis in September. Growth eased from 4.7% in August.
Month-on-month, retail sales rose 0.5% in September. They expanded at the same pace in August from July.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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