
GDP advanced 0.7% between April and June, one tenth more than in the previous quarter, as confirmed by the INE.
The Spanish economy accelerated its growth in the second quarter with a GDP increase of 0.7%, driven by the dynamism of household consumption and business investment, according to data confirmed by the INE.
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The National Institute of Statistics periodically publishes data on the evolution of the Gross Domestic Product.
The Spanish economy accelerated in the second quarter thanks to household consumption and business investment. The National Institute of Statistics (INE) confirmed this Friday that GDP rose 0.7% between April and June, one tenth more than in the first quarter. If compared to the same period a year ago, the increase in activity was 2.6%.
In a context in which the labor market continued to appear robust despite global uncertainty, family consumption is consolidated as one of the main drivers of growth. This advanced 1.2% compared to the previous quarter, nine tenths more than in the first. At the same time, productive investment was also dynamic, so that gross fixed capital formation grew by 1.4% quarter-on-quarter, four tenths more than in the first quarter. By sector, construction stands out, with an increase of 1% in the second quarter.

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The Spanish economy grew 0.7% in the second quarter and 2.6% year-on-year, driven by national demand and the strength of household consumption and the labor market, according to INE data.

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The INE confirmed that the Spanish economy grew by 0.7% in the second quarter of the year, maintaining year-on-year growth at 2.6% after a statistical review.