Spanish GDP growth eases to 0.6% in third quarter

Spain's GDP growth slowed slightly to 0.6% in the third quarter of the year, according to preliminary data from the National Statistics Institute (INE).

This is two-tenths of a point down on the previous quarter.

Domestic demand contributed 1.2 percentage points to quarterly growth, while external demand subtracted 0.6 points.

The Spanish economy grew 2.8% year on year, compared with 3% in the previous three- month period.

According to the INE, domestic demand contributed 3.7 points to year-on-year growth, while the external sector subtracted 0.8 points.

The number of hours worked rose by 2.5%, up from 1.6% in the second quarter, while full-time employment increased by 3.3%, slightly below the 3.4% registered in the preceding period.

Despite the slowdown, Spain remains one of the eurozone's stronger performers, with growth outpacing that of major European economies such as Germany and France.