Spain: Preliminary data show economy records largest expansion since Q1 2007
July 30, 2015
Spain’s economy continues to pick up steam. GDP expanded a seasonally-adjusted 1.0% in Q2 2015 over the previous quarter, according to preliminary data released by the National Statistics Office (INE) on 30 July. The expansion was above Q1’s 0.9% rise and matched market expectations. Moreover, Q2’s print marked the largest expansion since Q1 2007, as the economy continues to recover from years of recession.
On an annual basis, GDP expanded 3.1% in Q2, which represented an improvement over the 2.7% increase recorded in the previous quarter and marked the largest expansion since Q4 2007. The National Statistics Office (INE) will release more detailed data on 27 August.