Overview

• Eurostat data show Spain’s GDP expanded by 2.8% year-on-year in Q2, nearly double the 1.4% eurozone average.
• Employment grew by about 3% year-on-year, lifting total jobs above 22 million for the first time.
• Spain climbed two spots in the EU growth rankings to become the sixth fastest-growing economy.
• The jobless rate stood at 10.3% in Q2, significantly higher than the EU average of around 6%.
• Strong tourist arrivals, with over 100 million visitors expected this year, continue to bolster domestic demand.