Spain’s economy grew at a strong rate in the third quarter, albeit slightly slower than the expansion in the previous three months, preliminary estimates from the statistical office INE showed Friday.
Gross domestic product grew 0.8 percent from the second quarter, when the pace of growth was 1 percent, the fastest since early 2007.
It was the first slowing in the growth pace since the economy exited a prolonged recession in the third quarter of 2013.
On a year-on-year basis, GDP grew 3.4 percent in the third quarter, which was the strongest since the final three months of 2007, when the expansion was 3.6 percent. In the second quarter, the Spanish economy grew 3.1 percent. GDP has increased annually in every quarter since the beginning of 2014.
Both quarterly and annual growth figures were in line with economists’ expectations. Late September, the Bank of Spain had also forecast 0.8 percent quarterly growth and 3.4 percent annual expansion for the third quarter.
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