Spain Q2 GDP Growth Revised Higher

The Spanish economy grew 0.8% quarter-on-quarter in the three months to June 2025, up from a preliminary estimate of 0.7% and marking the strongest expansion in a year, following a 0.6% rise in the first quarter. Domestic demand contributed 0.8 percentage points to growth, while external demand made virtually no contribution. Household spending advanced 0.8% (vs 0.5% in Q1), investment surged 1.8% (vs 0.3%), and government consumption edged up 0.1% (vs 0.2%). Exports rose 1.3% (vs 2.4%), while imports increased 1.6% (vs 2%). On the supply side, all major sectors expanded except the primary sector, which contracted 6.4%. Industrial output grew 0.9% (vs 1.5%), supported by a 1.0% increase in manufacturing. Services climbed 1.0% (vs 0.4%) and construction jumped 2.3% (vs 0.3%). Year-on-year, GDP rose 3.1%, above both the preliminary estimate of 2.8% and the 2.8% gain recorded in the previous quarter.