The Spanish economy grew faster than expected in the last quarter. According to analysts, the fourth largest economy in the Eurozone is on track to avoid a recession.
According to data from the INE statistics agency, production increased by 0.2 percent in the second quarter, where analysts had expected 0.1 percent. On an annual basis, the economy grew 5.5% last year.
Spanish Prime Minister Pedro Sánchez has invested billions of euros in the economy to control inflation and protect households and businesses from rising costs and inflation. Inflation in Spain is one of the lowest in the eurozone, with growth expected at just 1.1% this year.
Elections
Good economic data is a boost for Sánchez. He wants to be re-elected in national elections by the end of the year. In the polls he is neck and neck with the largest opposition party PP, which also sees the advance of far-right VOX.
Source: BNR
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