In the third quarter of the year, the GDP registered a 0.3% growth, according to the latest data recorded by the National Institute of Statistics (INE). This growth is one tenth less than in the previous quarter, in which it rose 0.5%.
The contribution of private consumption stands out, driven by gains in purchasing power and the evolution of employment, while, on the supply side, the sectors that contribute the most to growth are the manufacturing industry and services.
Specifically, household consumption grew by 1.4% between July and September, five tenths more than in the previous quarter and its largest quarterly increase since the summer of 2022. For its part, public spending slowed its progress by one point. quarterly, up to 0.6%.
The Ministry of Economic Affairs has assessed these figures as positive, “a very notable figure in a context of high international uncertainty and rising interest rates.”