The Spanish economy grew 2.6% in the third quarter of the year


Madrid, 23 Dec. (EFE) .- The Spanish economy grew by 2.6% in the third quarter of the year, with an increase of 1.4 points compared to the previous quarter, reported on Thursday the National Institute of statistics of Spain.

This increase is six tenths higher than the preliminary growth data for the country’s gross domestic product (GDP), put forward by this body last October.

The year-over-year change, compared to the third quarter of last year, reflects growth of 3.4%, according to the institute.

The figures suggest that growth has been largely supported by external demand (exports and imports), which contributes 1.5 percentage points, while domestic demand (consumption and investment) contributes 1.1 percentage points.

Employment measured in full-time equivalents rose 3.9%, four points more than in the second quarter of the year.

The Bank of Spain, the country’s central entity, has revised its 2021 growth forecast for the Spanish economy downwards to 4.5%, down 1.9 points from its previous estimate.

Growth estimated by the Spanish government for 2021 is 6.5%, while projections from organizations such as the European Union (EU), the International Monetary Fund (IMF) and the Organization for Economic Co-operation and Development (OECD) place it between 4.6 and 6.8%.

(c) EFE Agency

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