Spanish GDP growth slowed in the summer

BarcelonaThe National Institute of Statistics (INE) confirmed this Tuesday that Spain's GDP grew by 0.6% in the summer quarterly figureBetween July and September, this upward trend in the economy slowed by one-tenth of a percentage point compared to the second quarter, when the increase was 0.7%. Even so, this marks the ninth consecutive quarter with growth of 0.6% or higher, driven primarily by domestic demand. Furthermore, the year-on-year change in GDP was 2.8%, compared to 2.9% in the previous quarter. The Ministry of Economy highlighted the increase in household consumption, which registered a quarterly rebound of 1.1%, thus accelerating the pace compared to the previous period. It also emphasized the solid growth in investment, which increased by 2.1%. The department, headed by Carlos Cuerpo, boasted that this dynamism occurred despite an international context of geopolitical and trade uncertainty.

In any case, if we look at the external sector, this was one of the factors that slowed the growth of the Spanish economy. Exports of goods and services fell by 0.6% compared to the second quarter, two percentage points less than the previous quarter (the year-on-year rate is 3.3%, one percentage point lower). And imports registered a quarter-on-quarter change of 1.3%, seven tenths of a percentage point less than in the previous quarter (with a year-on-year rate of 6.8%, two tenths of a percentage point higher).

Spanish government forecasts

As the Spanish government noted, these figures reinforce its forecasts of GDP growth of 2.9% or higher by the end of 2025, with Spain outperforming its main EU partners. The ministry emphasized that 2026 will begin with a positive carryover of 1%, "providing a solid foundation for the confidence of businesses, investors, and workers."