Spain GDP


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.

The Central Bank expects the economy to grow 3.1% in 2015 and 2.5% in 2016. FocusEconomics Consensus Forecast panelists expect GDP to expand 2.9% in 2015, which is up 0.1 percentage points from last month’s forecast. In 2016, panelists expect the economy to expand 2.6%.

Author: Angela Bouzanis, Senior Economist

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Spain GDP Chart

Spain GDP Q2 2015

Note: Quarter-on-quarter changes of seasonally-adjusted GDP and year-on-year variation in %
Source: Statistical Institute (INE) and FocusEconomics calculations.

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