Spain’s Economy Beats Forecasts With 0.8% Quarterly Growth

October 30, 2024

MADRID (Reuters) -The Spanish economy grew at a faster-than-expected rate in the third quarter to again outpace its European peers thanks to a strong tourism season and exports, preliminary data showed on Wednesday. Spain's gross domestic product grew 0.8% in the third quarter from the previous three months, the same pace of expansion as in the second quarter, the National Statistics Institute (INE) said. Year-on-year it grew 3.4%, an acceleration from the 3.2% registered in the previous three months. Analysts polled by Reuters had expected GDP to grow 0.6% quarter-on-quarter and 3.0% year-on-year. "Today's data show how strong and b...