Latest data released by the National Statistics Institute - 30 October 2020
- Prior -17.8%
- GDP -8.7% vs -11.8% y/y expected
- Prior -21.5%
Similar to what we saw with France earlier, the growth in Q3 economic output beats estimates and reaffirms a record bounce in economic activity. That said, the outlook going into Q4 has turned rather dire and that is the key focus in the market right now.
