Spain 3Q GDP shrinks 0.3 percent from previous quarter

MADRID: The Spanish economy shrank 0.3 percent in the third quarter on a quarterly basis, as forecast and after contracting 0.4 per cent in the April to June period, final official data showed on Thursday.

On an annual basis output fell by 1.6 per cent, in line with consensus, and dropping further than a 1.4 percent shrinkage in the second quarter, revised from a previous reading of a 1.3 per cent contraction.