Spain: Preliminary data show growth moderates in the third quarter
October 30, 2015
After recording the largest expansion in over 7 years in the second quarter, Spain’s economy lost steam slightly in Q3. GDP expanded a seasonally-adjusted 0.8% in Q3 2015 over the previous quarter, according to preliminary data released by the National Statistics Office (INE) on 30 October. The expansion was below Q2’s 1.0% rise, but beat expectations of a 0.7% expansion. Despite the moderation, Q3’s print still marked a solid performance for the Spanish economy as it continues to recover from years of recession.
On an annual basis, GDP expanded 3.4% in Q3, which represented an improvement over the 3.1% increase recorded in the previous quarter and marked the largest expansion since Q4 2007. The National Statistics Office (INE) will release more detailed data on 26 November.