Espagne Croissance Du Pib

The Spanish economy expanded 0.8% qoq in Q3 2024, the same as in Q2 and above forecasts of 0.6%, preliminary estimates showed. Consumer spending rose slightly more (1.1% vs 1%) and public expenditure increased the most since the Q1 2004 (2.2% vs 0.6%). In contrast, gross fixed capital formation contracted (-0.9% vs 0.4%), the first decline in four quarters, with investment in machinery, capital goods and weapons systems, transport material (-4.2%) and construction materials (-4.2%) recording the biggest decreases. On the expenditure side, all major sectors of the economy logged positive growth, except construction (-1.4% vs 0.6%)). Industry grew 0.2% (vs 1.1%) and services by 1.1% (vs 1.2%). Year-on-year, the economy grew 3.4%, the most since Q1 2023. The IMF forecasts that the Spanish economy will grow by 2.9% in 2024, building on a 2.5% expansion in 2023. The economy has been boosted by immigration, tourism, foreign investment, and public spending.