Market in Spain.

Market in Spain. | Europa Press

Majorca Daily Bulletin reporterMallorca-International30/07/2021 10:53
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Spain’s economy grew by 2.8% in the second quarter of this year, compared to Q1, mainly due to a boost in consumption, according to National Accounting data published by the National Statistics Institute.

Thel economy rebounded 19.8% year-on-year, after 5 consecutive negative quarters.

After a disastrous 2020, GDP soared in the second quarter, with domestic demand adding 20.3 points to year-on-year figures, which is 22.9 points higher than Q1.

External demand was a negative 0.5 points, which is 1.1 more than the previous quarter.

At current prices, GDP rose 21.1% year-on-year, 24.1 points higher than between January and March.

“Due to limited information and the changing Covid situation, future revisions of these results may be of a greater magnitude than usual,” warned the INE.