Spain's economy maintains fast growth in Q2


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

MADRID (AP) — Spain's economy expanded by 1 percent in the second quarter compared with the previous three-month period, its best rate since before the economic crisis began in 2007.

It was Spain's eight consecutive quarterly growth figure.

The National Statistics Institute said Thursday the economy grew at a year-on-year rate of 3.1 percent in the second quarter.

Spain was battered by the global financial crisis and only emerged from a double-dip recession at the end of 2013. It still has a 22.4 percent unemployment rate, the second highest in the European Union after Greece.

The government says the economy will grow 3.3 percent this year and 3 percent in 2016.

The ruling conservative Popular Party hopes the recovery will stem its plunging popularity ratings in time for general elections later this year.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast