The Spanish economy grows 0.7% in the second quarter and has had 24 positive quarters

The Spanish economy grew by 0.7% in the second quarter of the year, one tenth more than the previous quarter, and registered a year-on-year advance of 2.6%, a rate similar to that recorded between January and March, according to National Accounting data published this Friday by the National Institute of Statistics (INE).

With the quarterly growth of 0.7% in the second quarter, which coincides with that advanced by Statistics at the end of July, the Spanish economy has had 24 quarters with positive quarterly rates.

In the second quarter of 2026, domestic demand contributed 1.1 points to the quarter-on-quarter growth of the Gross Domestic Product (GDP), while external demand subtracted half a point from growth.

In an interannual rate, GDP grew by 2.6% in the second quarter, one tenth less than initially anticipated. However, the data is equal to that of the first quarter because Statistics has reduced the interannual growth of the first three months of the year by one tenth, to 2.6%.

With this year-on-year rebound, the Spanish economy has chained 21 quarters of year-on-year increases.

In this case, national demand contributed 3.5 points to the year-on-year growth of the Spanish economy in the second quarter, compared to a negative contribution of nine tenths from external demand.

The Ministry of Economy, Commerce and Business has highlighted that the quarterly GDP growth in the first quarter was supported by the "strength" of domestic demand, with household consumption growing at 1.2%, "driven" by the "solidity" of the labor market, and investment showing "high dynamism", with special strength in intellectual property products.

"In an interannual rate, the growth of our country's GDP remains solid at 2.6% between April and June, with household consumption accelerating to 3.5%, five tenths more than in the first quarter," underlined the Department led by Carlos Body.

This good performance, Economy continues, allows for accumulated growth so far this year of 2.2%, which "favors" the fulfillment of the Government's forecast of 2.6% economic growth at the end of the year.

"Spain continues to lead among the large advanced economies, according to the latest forecasts of the main international organizations, in a context still marked by international uncertainty," the Ministry noted.