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Financial News: Spain GDP Expands More Than Estimated In Q2

Spain GDP Expands More Than Estimated In Q2

09/23/2022 - 06:32:00 (RTTNews)

(RTTNews) - Spain's economy rebounded more than initially estimated in the three months ended June, latest data from the statistical office INE showed on Friday.

Gross domestic product advanced 1.5 percent quarter-on-quarter, reversing a revised 0.2 percent contraction in the first quarter. The second quarter figure was revised up from the 1.1 percent rise estimated initially on July 29.

On the expenditure side, household final consumption grew 1.2 percent over the quarter, and gross fixed capital formation logged an increase of 2.5 percent.

Net exports gained 0.6 percent in the second quarter, recovering from a 1.8 percent fall seen in the first quarter.

On a yearly basis, GDP growth improved marginally to 6.8 percent in the June quarter from 6.7 percent in the March quarter. In the flash report, the growth rate for the second quarter was steady at 6.3 percent.

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