Spanish GDP grew by 0.6% in the third quarter of 2026 and 2.7% year-on-year, according to INE. Employment continues to rise, but hourly productivity barely advanced by 0.4%.
According to iberoeconomia.es, Spain's Gross Domestic Product (GDP) increased by 0.6% in the third quarter of 2026 compared to the previous quarter, according to data from the National Institute of Statistics (INE). Year-on-year, the growth was 2.7%, one-tenth higher than in the previous quarter.
Domestic demand was the main driver of activity, contributing 2.6 points to year-on-year growth. Household consumption rose by 3.1% and public administration spending by 2.5%. Exports grew by 3.6% and imports by 3.9%.
In the labour market, full-time equivalent jobs increased by 1.6% year-on-year and hours worked by 2.2%. Productivity per full-time equivalent position advanced by 1.1%, but productivity per hour worked only grew by 0.4%.
The report itself links productivity to companies' ability to improve margins, invest, compete abroad, and pay better wages. For growth to reach households, it points to the need to reduce productivity differences between companies and facilitate the expansion of small businesses.
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