Iceland’s Economy Grew 6.1% Last Quarter as Exports Increased

Iceland’s economy grew in the third quarter, helped by a rise in exports, the nation’s statistics agency said.

Gross domestic product gained 6.1 percent from the previous quarter, after shrinking 6.6 percent in the three months through June, Statistics Iceland said in a statement today. Output expanded 4.9 percent from a year earlier.

Exports rose 11.8 percent from the previous quarter, while imports fell 0.8 percent. Private consumption increased by 0.7 percent, the Reykjavik-based agency said. Gross fixed capital formation slumped 8.9 percent and government spending was unchanged.

Sedlabanki in November left its benchmark interest rate unchanged at 6 percent for an eighth consecutive meeting.

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