Spanish Economy Expands at Fastest Pace in Almost Two Years
- Output rose 0.9% in the second quarter, matching estimate
- Economists see renewed impetus from consumers fuelling growth
Employees work on Seat Leon vehicles on the production line during assembly at Volkswagen AG's Seat automobile plant in Martorell, Spain, on Tuesday, July 15, 2014. Seat plans to add a compact sports-utility vehicle to its lineup in 2016 to tap growth in a market segment the division estimates has grown more than 40 percent in the last five years in Europe.
Photographer: David Ramos/BloombergThe Spanish economy accelerated at the fastest pace in almost two years, extending a recovery that shows no signs of abating.
Output grew 0.9 percent in the three months through June after expanding 0.8 percent in the previous quarter, the National Statistics Office said Friday in a preliminary report. That’s the best reading since 2015 and matches the median estimate in a Bloomberg survey of economists. From a year ago, the economy accelerated 3.1 percent.