Spanish Economy Grows for the First Time in 2 Years in Q3


In the third quarter of 2013, Spain’s GDP grew 0.1 percent from the previous three months, the first expansion in nine quarters, according to the flash estimate released by the statistical office INE.

Exports were the main driver of growth. Domestic demand remained depressed, while contracting imports and downward pressures from gross fixed capital formation also had a negative impact on growth.

On an annual basis, the economy shrank by 1.2 percent compared to the 1.6 percent contraction in the previous quarter. The negative contribution of domestic demand was partially offset by the good performance of the external sector.  

Spanish Economy Grows for the First Time in 2 Years in Q3


INE | Krisztina Györffy | krisztina@tradingeconomics.com
10/30/2013 9:17:09 AM