State demand has started to drive economic growth, mainly thanks to the strong recovery in household consumption (moving from negative growth to 3.2% growth) and the continued dynamism of investment.
Euskaraz irakurri: Espainiako BPGk hazkundea bizkortu du bigarren hiruhilekoan, % 1,1era arte
The Spanish economy accelerated its quarterly growth between April and Juneto put it at 1.1%, compared to 0.2% in the previous quarter, according to the progress of National Accounts data released this Friday by the National Institute of Statistics (IN).
In the second quarter, state demand started to lead economic growth, mainly due to the strong recovery in household consumption (which went from negative growth to 3.2% growth) and maintaining the investment dynamics.
Quarterly GDP growth, the fifth in a row, was seven-tenths above the Bank of Spain’s forecast, which in its latest forecasts had forecast a 0.4% increase for the second quarter.
On an annual basis, the change in Gross Domestic Product is 6.3%a rate comparable to that of the first quarter of 2022, the INE said.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
