The Spanish economy grew 0.6% quarter-on-quarter in Q3 2025, easing from 0.8% in Q2 and in line with expectations, according to preliminary estimates. Domestic demand was the main driver of growth, contributing 1.2 percentage points, while external demand subtracted 0.6 points. Among demand components, household consumption increased 1.2%, government spending rose 1.1%, and investment expanded 1.7%. Meanwhile, exports of goods and services fell 0.6%, and imports advanced 1.1%. On the supply side, industrial output grew 0.5%, led by a 0.6% rise in manufacturing. Construction and services activity each expanded 0.8%, while the primary sector contracted 0.4%. Year-on-year, GDP increased 2.8%, slightly below 3.1% in the second quarter and close to market expectations of 3.0%. Q3 figures confirm Spain’s continued outperformance within the euro area, underpinned by sustained strength in tourism, favorable energy dynamics, and firm domestic consumption.
