Spain | GDP exceeds expectations with growth of 0.8% q/q in 2Q2025

Summary

The economy experienced a stronger-than-expected recovery in the second quarter of 2025, with quarterly growth of 0.8%, driven mainly by domestic demand. This performance, combined with statistical revisions, skews growth expectations for 2025.

Key points

• Key points:
• The economy grew more than expected in 2Q2025.
• Review of the 2022-2024 accounting series.
• Domestic demand led growth in 2Q2025.
• Most components of final demand performed well last quarter.
• More hours worked and employment rate, but with mixed signals regarding productivity.

Geographies

Topics

Tags