Our country’s economy is experiencing a strong growth rate. GDP (Gross Domestic Product) increased by 0.8% during the summer, compared to the second quarter, as announced by the INE (National Institute of Statistics) this Wednesday.
The INE indicates that the interannual growth rate of activity (compared to the same quarter of last year) reached 3.4%, the highest in a year and a half. In the second quarter, annual GDP growth was 3.2%.
During the summer, the significant contribution of private consumption stands out in a context of moderating inflation. The increase in family expenses was 2.8% over one year and “is supported by the gain in purchasing power of workers, which increased by more than one point last year, and by the evolution positive employment”, as defended by the Ministry of the Economy.
On the other hand, the excellent performance of the external sector is “particularly significant”, with an annual increase in exports of 5.1% and notable growth in exports of non-tourist services, “which multiplied last year almost four times its growth rate, up to 12.5%,” they add from the department headed by Carlos Cuerpo.
If we analyze the third quarter by sector, all branches of activity contribute positively to economic growth, with a very relevant contribution from the manufacturing industry.
“The data we have today reflects the vigor and balanced growth of the Spanish economy, which is corroborated day after day by the main national and international organizations,” says the Ministry of Economy.
