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UPDATE 1-Spain s economy grows faster than expected in Q2 reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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MADRID, July 30 (Reuters) - The Spanish economy rebounded faster than expected in the second quarter after unexpectedly contracting in the first three months of the year, when rising COVID-19 contagion forced new restrictions on businesses.
Spain’s gross domestic product expanded 2.8% in April-June compared to the quarter before, faster than the 2.2% expected by analysts, official data showed on Friday. The economy had contracted 0.4% in January-March.
“This week’s data confirm a strong recovery is ongoing,” Economy Minister Nadia Calvino said on her Twitter account.
Year on year, the economy grew a stunning 19.8% in April-June, partly recovering ground lost during the second quarter of 2020 when Spain’s strict coronavirus lockdown caused a 21.5% contraction.