Economic growth – mainly driven by higher consumption expenditures, statistics say

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The National Statistics Institute (INS) has issued a release on Tuesday reading that the high economic growth was driven by the increased household consumption by 9.7%, which led to 6.1% GDP increase, but also by investments (up by 3.8%), which contributed by 0.8% to the GDP increase. Net exports had a negative influence (-0.6%) due to the lower pace of growth against imports (9.6% against 10.8%).

In the first nine months of the year all economic fields contributed to the GDP growth: industry by 1.8% (23.2% share to the GDP), trade by 1.6% (18.2% share to the GDP), agriculture by 1.1% (4.9% share to the GDP).

In the first nine months the GDP grew by 7% as gross series against the same period last year and by 6.9% as seasonally adjusted series.

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