Official data showed on Tuesday that Spain's economy grew 0.8% in the second quarter, beating expectations due to rising exports and strong household spending.
As the fourth largest economy in the Eurozone, its growth rate is one of the highest in the Eurozone.
The Bank of Spain expects economic growth from April to June to be 0.6%
Official data showed on Tuesday that Spain's economy grew 0.8% in the second quarter, beating expectations due to rising exports and strong household spending.
As the fourth largest economy in the Eurozone, its growth rate is one of the highest in the Eurozone.
The Bank of Spain forecasts economic growth of 0.6% between April and June, and preliminary data from the INE national statistics agency released on Tuesday were in line with a revised growth rate of 0.8% for the first three months of 2024.
Growth was driven by a 1.2% rise in exports and an increase in business investment, which rose 0.9% after rising 2.6% in the previous three months.
Higher household spending also helped, rising 0.3%, slightly slower than the 0.4% gain in the previous quarter.
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The Spanish government this month raised its economic growth forecast for this year from 2.0% to 2.4%.
Wabu/DS/TW
