The Spanish economy grew 0.8% in the third quarter of 2024, as domestic consumption and exports increased, reinforcing a buoyant performance comfortably outstripping the EU average, official data showed on Monday. ALSO READ: Spain tops economic rankings in weekly ‘The Economist’ magazine.
Household spending in the European Union’s fourth-largest economy jumped 1.2% between July and September while exports rose 0.4%, the National Statistics Institute (INE) said, confirming a provisional estimate from October.
The agriculture and service sectors expanded strongly during the period, which coincided with the crucial summer tourism season in the world’s second most-visited country.
The bullish economy has provided political capital to the often beleaguered coalition government of the PSOE socialists and left-wing Sumar group, which has set a growth target of 2.7% for 2024.
Earlier this month, the Bank of Spain raised its annual growth forecast to 3.1%, well above the eurozone figure of 0.8% predicted by the European Central Bank.
Contabilidad Nacional Trimestral de España. Tercer trimestre 2024 @es_INE
— INE España (@es_INE) December 23, 2024
El #PIB registró una variación del 0,8% en el tercer trimestre respecto al trimestre anterior en términos de volumen. Esta tasa fue similar a la del segundo trimestre
Nota de prensa
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