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yesterday

Spain’s GDP Growth Accelerates to 0.7% in Q2, Surpassing Forecasts

Robust export gains fueled by a 1.1% jump in shipments have set Spain on track to meet its 2.6% growth goal despite limited exposure to US tariffs

Le Premier ministre socialiste espagnol Pedro Sánchez, lors d'une allocution devant le Parlement à Madrid le 26 mars 2023
Deuxième économie de la zone euro, l’Hexagone est la première à dévoiler comment son produit intérieur brut a évolué entre avril et juin.
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Le ministre français de l'Economie, Eric Lombard, lors d'une séance de questions au gouvernement à l'Assemblée nationale, à Paris, le 3 juin 2025

Overview

  • Official INE figures show Spain’s economy expanded by 0.7% in the second quarter, outpacing the 0.6% rise in Q1 and exceeding the Bank of Spain’s 0.5–0.6% projection.
  • Export volumes climbed 1.1% quarter-on-quarter, marking the largest contributor to growth even as US-imposed tariffs edged higher.
  • Business capital spending jumped by 2.1% and household consumption rose by 0.8%, reflecting broad-based domestic demand.
  • Spain’s 3.2% GDP growth in 2024 topped the euro-area average of 1%, underscoring its role as the bloc’s fourth-largest economy.
  • Government and IMF forecasts of around 2.5–2.6% growth for 2025 remain attainable as indirect EU trade-tension effects are expected to be modest.