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Spain's economy grows by 0.8 pct in Q3

Xinhua, October 1, 2015 Adjust font size:

Spain's economy grew by 0.8 percent in the third quarter of the year, according to predictions published on Wednesday by the Bank of Spain.

The figure was 0.2 percent lower than that of the second quarter, when Spain's economy grew by 1 percent.

Meanwhile, the Bank of Spain predicted that on a year-on-year basis the Spanish gross domestic product (GDP) grew by 3.4 percent in the third quarter, 0.3 percent more than in the second quarter.

The Bank of Spain considered that the economic expansion continued in Spain although in the third quarter at a slower pace when compared with the second and the first quarter, as the country's economy rose by 0.9 percent and 1 percent respectively.

Domestic demand was the key factor in the country's economic growth between July and September and the Bank of Spain expects domestic demand to grow more in the following months thanks to rises in investment and consumption, especially private consumption.

The Bank of Spain predicted that the economy would grow by 3.1 percent in 2015 and by 2.7 percent in 2016. Endit