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Spain’s Economic Growth Accelerates to 0.7% in Second Quarter
Growth beat analysts’ 0.6% forecast, while underlying inflation climbed to 3% and the harmonised rate reached 3.8%, the statistics office said.
- On Thursday, the National Statistics Institute reported Spain's GDP rose 0.7% in the second quarter, slightly exceeding the 0.6% expansion in the previous three-month period.
- Spain's economy expanded 2.8% last year and ranks among Europe's top performers, aided by record tourist numbers. Madrid recently raised its 2027 growth estimate to 2.2% from 2.1%.
- Inflation accelerated to 3.5% in July, while the Harmonised Index of Consumer Prices rose to 3.8%. Underlying inflation also increased to 3%, indicating persistent price pressures.
- Geopolitical tensions in the Middle East have driven up international oil and gas prices in recent weeks. The Ministry of Economy stated existing measures remain in force to mitigate energy cost impacts.
- Economy Minister Carlos Cuerpo previously expected second-quarter growth to remain robust, and forecasts suggest expansion will stay above 2% through 2029. This reflects resilience amid broader economic headwinds.
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Coverage Details
Total News Sources41
Leaning Left4Leaning Right10Center8Last UpdatedBias Distribution46% Right
Bias Distribution
- 46% of the sources lean Right
46% Right
L 18%
C 36%
R 46%
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