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Home » Spain’s Economy Grows 0.5 Pct in Q2: INE

Spain’s Economy Grows 0.5 Pct in Q2: INE

by Aitor Piedrabuena
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Spain’s economy grew by 0.5 percent between April and June (second quarter, Q2) this year, the Spanish Statistical Office (INE) said on Friday.

Q2 growth was higher than 0.6 percent registered in the first quarter of 2023, but 1 percentage point higher than the preliminary estimate.

Year-on-year gross domestic product growth stood at 2.2 percent in Q2, two percentage points below that recorded in the first quarter but higher than the previously estimated 1.8 percent.

In Q2, foreign trade recorded a weak performance with exports falling by 3.2 percent, but domestic consumption saw a greater than expected growth. Compared to the first three months of this year, household spending increased 0.9 percent in Q2.

source

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