Spain's economic growth edges down to 0.6% in third quarter

Spain’s Economic Growth Slows to 0.6% in Q3, Matches Analyst Estimates

Spain’s Q3 Economic Performance and Future Outlook

Q3 2023 GDP Growth Figures

Oct 30 (Reuters) - Spain's economic growth edged down to 0.6% in the third quarter after a 0.7% expansion in the previous three-month period, preliminary data from the National Statistics Institute showed on Friday.

Analyst Estimates and Annual Growth

The growth was in line with the average forecast of analysts polled by LSEG.

On an annual basis, Spain's gross domestic product expanded 2.7% in the quarter, also in line with analysts' estimates.

Central Bank Projections and Economic Drivers

Revised Growth Forecasts

Earlier this month, Spain's central bank raised its economic growth forecast for this year and next, citing strong private consumption and rising exports while warning of risks from high inflation, international conflicts and rising bond yields.

Long-Term GDP Expectations

It said full-year growth in 2026 should reach 2.6%, the same expansion as in 2025 and above the June forecast of 2.3%.

In 2027, GDP is expected to expand by 2.2%, above the previous forecast of 1.7%.

Reporting Credits

(Reporting by Joao Manuel Mauricio in Gdansk; Editing by David Latona)