Reported by Consejeros Editorial Team
Against a backdrop still marked by the impact of the war in Iran, preliminary GDP figures have provided a positive surprise, showing growth of 0.7 per cent quarter-on-quarter in the second quarter of the year – one-tenth of a percentage point higher than in the first quarter – whilst maintaining stable annual growth at 2.7 per cent, contrary to expectations of a slowdown.
According to the Ministry of Economy, Trade and Enterprise, this growth has been underpinned by strong domestic demand, particularly household consumption (0.7 per cent quarter-on-quarter and 3.2 per cent year-on-year). Investment also contributed, with gross fixed capital formation growing by 0.4 per cent quarter-on-quarter and 5.1 per cent year-on-year, with particularly strong growth in intellectual property products (7.7 per cent year-on-year) and construction (5.2 per cent year-on-year).
The boost from industry has also played a significant role. All major sectors of activity have recorded positive quarterly and annual growth rates in their value added.Thus, industrial sectors rose by 1 per cent quarter-on-quarter and 1.8 per cent year-on-year in Q2 26. Within these, the manufacturing sector recorded an increase of 0.7 per cent quarter-on-quarter and 1.4 per cent year-on-year.
The Department headed by Carlos Cuerpo emphasises that “Spain is maintaining its growth momentum and continues to lead the major economies of the eurozone, according to the latest forecasts from the leading international organisations”.
The implementation of European funds in Spain is in its final stages, with deadlines formally ending on 31 August 2026 for the majority of investments. In fact, the government is pushing to speed up work in order to increase the rate of implementation and exceed the current compliance rate, which stands at around 71 per cent. Earlier this month, the European Commission gave the green light to the sixth disbursement of €5.7 billion in Next Generation funds.
