Spain: Economy decelerates marginally in Q2
July 29, 2016
The Spanish economy recorded another expansion in the second quarter despite the political deadlock that has characterized the country since the last general elections in December. GDP expanded a seasonally-adjusted 0.7% in Q2 2016 over the previous quarter, according to preliminary data released by the National Statistics Office (INE) on 29 July. The expansion came in slightly below the 0.8% increase recorded in the second quarter.
On an annual basis, GDP expanded 3.2% in the second quarter, which represented a slight deceleration over the 3.4% increase recorded in the previous quarter. Q2’s increase marked the slowest increase in a year. The National Statistics Office (INE) will release more detailed data on 25 August.
Author: Dirina Mançellari, Senior Economist