Spanish Economy Loses Some Momentum, Central Bank Estimates
- Gross domestic product probably expanded 0.8% in third quarter
- Bank of Spain preliminary estimate based on indicators
The Spanish economy is growing at the fastest pace in eight years on cheaper oil prices, a competitive euro exchange rate and the European Central Bank’s quantitative-easing program.
Photographer: David Ramos/BloombergThe Spanish economy may have grown 0.8 percent in the third quarter buoyed by internal demand in the euro zone’s fourth largest economy even as the pace of growth slowed from the previous three-month period, the Bank of Spain said.
Gross domestic product expanded 3.4 percent from a year ago, the Madrid-based central bank said in its monthly bulletin published Wednesday, citing preliminary data based on available indicators. Economy Minister Luis de Guindos had said the pace of growth in the third quarter would be similar to that of the second quarter when it expanded 1 percent.