ECONOMIC GROWTH
Spanish economy expanded 0.6% between April and June
Preliminary data by National Statistics Institute suggests sustained GDP growth over the last year
The Spanish economy grew 0.6% between April and June from the previous quarter, according to provisional estimates by the National Statistics Institute (INE).
This is a tenth of a point higher than the Bank of Spain’s GDP growth estimate. If the figure is confirmed a month from now, it will put the annual expansion rate at 1.2%, confirming that Spain is slowly pulling out of its worst crisis in recent history.
It also represents the greatest quarterly GDP growth since the crisis began in 2008.
The end of the crisis will ultimately be defined by a drop in the unemployment rate, which now stands at 24.5%. The latest employment figures show nearly 200,000 more people in employment compared with 2013.
