Overview

• Commerce Department’s second revision put U.S. second‑quarter growth at a 3.8% annualized pace, beating the prior 3.3% estimate on stronger consumer spending.
• A drop in imports boosted the U.S. tally, while first‑quarter GDP was revised down to a 0.6% contraction from an initially estimated 0.5% decline.
• Spain’s statistics agency raised quarterly growth to 0.8% and revised the year‑on‑year rate to 3.1%.
• Spain’s advance came entirely from domestic demand, with household consumption up 0.8% and investment up 1.8% as external demand offered virtually no support.
• Spain outpaced eurozone peers in the quarter—Germany contracted 0.3%, Italy dipped 0.1% and France grew 0.3%—during a period marked by new U.S. tariffs and trade uncertainty.