BarcelonaThe drums of a slowdown for the Spanish economy have been resounding for months. Although at the beginning of the year it blasted the bad omens that anticipated a recession, and in the second quarter it continued to hold the momentum while Germany stagnated, there are now two certainties on the table: its gross domestic product (GDP, the indicator that measures the economic activity of a territory) will slow down in the second semester, but this will grow in the overall calculation of the year.
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A more diffuse issue is the magnitude of this slowdown, which must demonstrate the impact in Spain of what is already a reality in the European Union (EU), which grew by 0.1% in the second quarter. According to the data released this Friday by the National Institute of Statistics (INE), and which will be confirmed on December 22, Spanish GDP grew by 0.3% in the third quarter. The increase is due to the increase in national demand, with a positive contribution from private consumption.
“This data confirms the differential growth of the Spanish economy with respect to the main countries of the euro zone and is in line with the macroeconomic forecasts included in the Budgetary Plan”, highlighted the Ministry of Economic Affairs. In fact, this growth of 0.3% this third quarter also fits with the forecasts of the Bank of Spain.
It should be borne in mind that for both the first and second quarters, the INE had predicted growth one tenth lower than what ended up occurring: Spanish economic activity finally increased by 0.6% from January to March and 0.5% from April to June.
2023-10-27 07:03:47
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