Spain GDP Growth Slows As Estimated

(RTTNews) - The Spanish economy experienced a slower growth in the third quarter, in line with earlier estimate, final data from the statistical office INE showed on Tuesday.

Gross domestic product advanced 0.6 percent on a sequential basis, slower than the 0.7 percent growth registered in the second quarter. The third quarter growth matched the estimate published on October 29.

On a yearly basis, economic growth moderated to 2.8 percent, as estimated, from 2.9 percent in the previous quarter.

Domestic demand contributed +1.3 percentage points to quarterly growth. Meanwhile, external demand contributed -0.7 percentage points.

Household spending climbed 1.1 percent and government consumption advanced 1.3 percent. Gross fixed capital formation grew 2.1 percent. Exports of goods and services dropped 0.6 percent, while imports grew 1.3 percent.