Spain's economy grows fastest since 2007
Spain’s economy grew by a better-than-expected 0.6% in the second quarter compared with the previous three months, the fastest rate since 2007 and more evidence of the country’s recovery from recession.
In provisional estimates released today, the National Statistics Institute said the economy grew by 1.2% over 12 months, following four consecutive quarters of expansion.
The April-June growth figure was better than the 0.5% rate predicted by the Bank of Spain this month.
It is Spain’s best quarterly growth figure since the final three-month period of 2007, when the economy grew by 0.7%.
Spain fell into the first of two severe recessions in the second half of 2008 after its property sector collapsed. It emerged from the second slump in late 2013.
