Expert predictions from economists and the Bank of Spain are in. According to the National Statistics Institute, Spain grew by 0.6% between April and June. This is two-tenths of a point more than the first quarter and a 1.2% increase year-to-year.
The data are good thanks to increased business investments and increased domestic spending, despite high unemployment and lingering doubts. And the data also align with the government forecast of a "surprising bounceback in domestic spending." Although reforms and spending cuts need to continue, the recovery is well on its way in Spain and it looks like we are seeing the light at the end of the tunnel.
