On Friday, statisticians at Spain’s National Statistics Institute (INE) released the final figures for the second quarter, showing the economy expanded by 0.7% quarter-on-quarter. The revision lowered the year‑on‑year growth rate to 2.6%, a tenth of a percentage point below the provisional estimate.
The adjustment follows a recent statistical review of recent fiscal periods carried out by the INE. Despite the downgrade, the 0.7% quarterly gain confirms the outlook for 2026 growth forecasts, which remain unchanged.
Household consumption rose 1.2% in the spring, accelerating from the previous quarter. The Ministry of Economy attributed the increase to a “solid labour market” that boosted consumer confidence.
Impact and Reactions
Analysts noted that the revised YoY figure still places Spain among the faster‑growing economies in the eurozone, though the slight dip may temper optimism ahead of the autumn budget discussions. Business groups welcomed the steady quarterly rise but called for policies that sustain household spending.
Looking Ahead
The INE said the next set of data will cover the third quarter, expected to be published in November. Observers will watch whether the labour market continues to support consumption and whether the revised growth path holds through the end of the year.