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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SPAIN DATA
MNI (London)
SPAIN FINAL Q3 GDP +0.1% Q/Q (FLASH +0.2%), Q2 +2.0%r Q/Q
SPAIN FINAL Q3 GDP +4.4% Y/Y (FLASH +3.8%), Q2 +7.6%r Y/Y
- The Spanish economy came closer to stalling at +0.1% q/q in today's final Q3 2022 GDP data, a 0.1pp downgrade from the flash estimates.
- Year-on-year Q3 growth was +4.4%, slowing from +7.6% y/y in Q2.
- The Spanish Statistical Institute expressed that the previous print relied on a largely modelled estimate of September, which has proven to have been weaker than estimates. Substantial upwards revisions were made to Q2 data.
- Household final consumption expenditure was a meagre +0.1% q/q, as high inflation and recessionary outlooks sees spending soften into year-end.
- Contractions were recorded across gross fixed capital formation, industry (-0.1% q/q), information and communications (-0.3%), finance (-1.8% q/q), real estate (-3.0%), and the public/education/health sector (-0.2% q/q).
- All in all, a weak report implying that the Spanish economy is suffering sector-based recessions emerging across the greater economy.
- With outlooks to see no improvement in Q4, this quarter could be the onset of recession.
Source: INE
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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