Spain's economy slows to 0.6% as annual growth rises

Spain's economy grows by 0.6% between July and September, but the quarterly pace slips as household spending slows. The rise is a tenth of a percentage point smaller than in the previous quarter, according to preliminary figures released on Friday by Spain's National Statistics Institute.

Spending within Spain accounts for five tenths of a percentage point of the quarterly growth; trade with other countries adds one tenth. Household spending grows by 0.6%, down five tenths from the previous quarter. Investment also grows by 0.6%, while exports of goods and services rise by 1.3%.

The picture changes when the quarter is compared with the same period last year. Annual growth reaches 2.7%, up a tenth of a percentage point from the previous quarter. Spending within Spain drives almost all of that growth, while trade with other countries contributes almost nothing.

Topics: Economy

Source: Europa Press / Mallorca.com