GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
Spain's economic growth accelerates to 0.7% in second quarter - Finance news and analysis from Global Banking & Finance Review
Finance

Spain's economic growth accelerates to 0.7% in second quarter

Published by Global Banking & Finance Review

Posted on July 30, 2026

1 min read

· Last updated: July 30, 2026

Add as preferred source on Google
Finance Banking Markets

Spain's Economic Growth Rises to 0.7% in Second Quarter, Exceeding Estimates

Spain's GDP Performance and Economic Outlook

Quarterly Growth Figures

July 30 (Reuters) - Spain's economic growth edged up to 0.7% in the second quarter after a 0.6% expansion in the previous three-month period, preliminary data from the National Statistics Institute showed on Thursday.

Growth was also slightly above expectations as analysts polled by LSEG had forecast gross domestic product to grow 0.6% quarter-on-quarter.

Annual Performance and Contributing Factors

Spain's economy, which expanded 2.8% last year, has been one of the top performers in Europe, in part thanks to record tourist numbers.

Year-on-Year Growth and Future Projections

On an annual basis, Spain's GDP expanded 2.7% in the quarter, above the average estimate of 2.5% growth.

Last month, Madrid raised its 2027 growth estimate to 2.2% from 2.1% and said growth would remain above 2% through 2029. Economy Minister Carlos Cuerpo saidthen that he expected second-quarter GDP growth this year to be similar to, or slightly higher than, the first quarter.

Reporting Credits

(Reporting by Joao Manuel Mauricio in Gdansk; Editing by David Latona)

Key Takeaways

  • Spain’s Q2 2026 GDP growth of 0.7% exceeded the 0.6% forecast and prior Q1 pace, with annual growth of 2.7% (lamoncloa.gob.es)
  • The government raised its 2026 growth outlook from 2.2% to 2.6% and projects 2.2% growth in 2027, maintaining a growth trajectory above 2% through 2029 (lamoncloa.gob.es)
  • Tourism continues to underpin Spain’s performance: international tourist spending hit a record €134.7 billion in 2025, with arrivals near 97 million, and early 2026 data show arrivals up 5% (lamoncloa.gob.es)

References

Frequently Asked Questions

What was Spain's GDP growth rate in the second quarter?
Spain's GDP grew by 0.7% in the second quarter of 2024, according to preliminary data.
What factors contributed to Spain's strong economic performance?
Record tourist numbers and consistent economic expansion contributed to Spain's strong economic performance.
What is the annual growth rate for Spain's economy reported in this quarter?
Spain's economy expanded by 2.7% year-on-year in the second quarter, above the estimated 2.5%.
What are Spain's growth projections for the coming years?
Spain expects growth rates above 2% through 2029, with a revised 2027 estimate of 2.2%.

Tags

Related Articles

Image for German economy grows by 0.2% in Q2, preliminary data shows

German economy grows by 0.2% in Q2, preliminary data shows

Image for German auto supplier ZF keeps outlook as restructuring lifts H1 earnings

German auto supplier ZF keeps outlook as restructuring lifts H1 earnings

Image for Mercedes-Benz to recall more than 310,000 US vehicles citing risk of failure to detect open door 

Mercedes-Benz to recall more than 310,000 US vehicles citing risk of failure to detect open door 

Image for Symrise beats sales expectations on strong North America, Asia demand

Symrise beats sales expectations on strong North America, Asia demand

Image for Nearly 10,000 heat-related deaths in Germany so far this year, says institute

Nearly 10,000 heat-related deaths in Germany so far this year, says institute

Image for Vopak raises outlook as growth projects boost confidence, shares rise

Vopak raises outlook as growth projects boost confidence, shares rise

More from Finance

Explore more articles in the Finance category

Image for Portugal's EDP raises profit outlook on networks strength and asset gains
Portugal's EDP raises profit outlook on networks strength and asset gains
Image for Rentokil shares slump 17% on slower North America growth
Rentokil shares slump 17% on slower North America growth
Image for Europe's SES slumps after quarterly revenue miss
Europe's SES slumps after quarterly revenue miss
Image for Shell's profit more than doubles to $9.8 billion as Iran war boosts oil, gas prices
Shell's profit more than doubles to $9.8 billion as Iran war boosts oil, gas prices
Image for Private equity firm CVC beats half-year profit expectations
Private equity firm CVC beats half-year profit expectations
Image for UK's Drax first-half profit slides 39% on weaker power prices
UK's Drax first-half profit slides 39% on weaker power prices
Image for Magnum Ice Cream reports first-half earnings above expectations
Magnum Ice Cream reports first-half earnings above expectations
Image for Schroders reports £4.2 billion outflows ahead of sale to Nuveen
Schroders reports £4.2 billion outflows ahead of sale to Nuveen
Image for Lloyds reports first-half profit up 23%, outlines new strategy
Lloyds reports first-half profit up 23%, outlines new strategy
Image for Shell more than doubles its profit in Q2, beating expectations
Shell more than doubles its profit in Q2, beating expectations
Image for MTU Aero Engines beats Q2 forecasts, raises 2026 cash flow outlook
MTU Aero Engines beats Q2 forecasts, raises 2026 cash flow outlook
Image for Anglo American posts $858 million H1 loss, raises dividend as Teck merger awaits approval
Anglo American posts $858 million H1 loss, raises dividend as Teck merger awaits approval
View All Finance Posts