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Spain's Economic Growth Accelerates to 0.7% in Q2

July 30 (Reuters) - Spain's economic growth edged up to 0.7% in the second ​quarter after a 0.6% expansion ‌in the previous three-month period, preliminary data from the National Statistics Institute showed ​on Thursday.

Growth was also slightly ​above expectations as analysts polled ⁠by LSEG had forecast gross domestic ​product to grow 0.6% quarter-on-quarter.

Spain's ​economy, which expanded 2.8% last year, has been one of the top performers in ​Europe, in part thanks to ​record tourist numbers.

On an annual basis, Spain's GDP ‌expanded ⁠2.7% in the quarter, above the average estimate of 2.5% growth.

Last month, Madrid raised its 2027 growth estimate ​to ​2.2% from ⁠2.1% and said growth would remain above 2% ​through 2029. Economy Minister Carlos ​Cuerpo ⁠saidthen that he expected second-quarter GDP growth this year to be similar ⁠to, ​or slightly higher ​than, the first quarter.

Reporting by Joao Manuel Mauricio ​in Gdansk; Editing by David Latona

Source: Reuters


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