AFP – Spain’s economy grew 0.8 per cent in the third quarter as domestic consumption and exports increased, reinforcing a buoyant performance comfortably outstripping the European Union (EU) average, official data showed yesterday.
Household spending in the EU’s fourth-largest economy jumped 1.2 per cent between July and September while exports rose 0.4 per cent, the National Statistics Institute 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 minority left-wing government, which has set a growth target of 2.7 per cent for 2024.
Earlier this month, the Bank of Spain raised its annual growth forecast to 3.1 per cent, well above the eurozone figure of 0.8 per cent predicted by the European Central Bank.
