Spain GDP Growth Beats Expectations in Q2

The Spanish economy advanced at its fastest pace in more than six years in the second quarter of 2014. The GDP expanded a seasonally adjusted 0.6 percent on quarter in the three months to June, up from a 0.4 percent increase in the previous period and driven by domestic demand.

Preliminary estimates showed the economy accelerated for the third straight quarter, boosted by stronger domestic demand that offset weakening external, marking the fourth consecutive quarter of growth.

On a yearly basis, the GDP advanced 1.2 percent in the second quarter of 2014, compared with a 0.5 percent increase in the first three months of the year.

Both figures came above central bank expectations which last week estimated growth at 0.5 percent on quarter and 1.1 percent on an annual basis. 

Spain GDP Growth Beats Expectations in Q2

Joana Taborda |
7/30/2014 8:53:19 AM