Spain | GDP returned to growth in the second quarter of the year (2.8% quarter-on-quarter)

Summary

As expected, the economy resumed a strong recovery following the easing of the mobility restrictions linked to the state of emergency. Domestic demand added, thanks to consumption, while total investment and external demand subtracted. Hours worked grew more than activity

Key points

• Key points:
• The recovery regained traction at the end of the first half, in line with expectations
• Domestic demand accounted for all of the growth
• Domestic consumption (public and private), mainly responsible for the increase in final demand and imports
• Hours worked increased more than activity, indicating a somewhat worse productive performance

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