INE data The economy confirms its brake: GDP rose by 2% in the summer months with consumption in decline
The National Institute of Statistics (INE) has published this Thursday the revision of the growth data for the third quarter and, as usual since the beginning of the pandemic, the data has registered a sensitive change: growth was six tenths higher than initially aimed, with which
the economy grew by 2.6% during the summer months
.
The review exercise reveals that, in reality,
household consumption performed better than initially indicated
.
Instead of the estimated fall, this basic component for the Spanish economy rebounded one point.
The fact that it had contracted generated surprise and some disbelief among economists, and now it is confirmed that data was lacking to know its real behavior.
But even so, with the revision of consumption and the evolution of GDP as a whole,
the new data continues to seem insufficient
.
Because the expectations that the Government had for the summer months were very high, and this figure does not meet them.
And because after the third quarter the economy is suffering a clear slowdown that is now accentuated by the effects of the omicron variant.
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