The economy is slowing down but slightly and still maintaining fairly high rates. In the second quarter it grew 0.5% compared to the 0.6% in the first, according to new data published this Friday by the National Institute of Statistics. Both figures have been revised upwards. These growth rates are one tenth higher in both quarters than those previously estimated by the INE. Despite the sharp slowdown that the eurozone’s trading partners are experiencing, Spain manages to maintain the momentum in activity thanks to the increase in household consumption, public spending and investment in construction.
With these numbers, the annual review that the statistical agency had disclosed on Monday is also incorporated into the quarterly accounting. And as a result of this change, the recovery of pre-pandemic levels occurred in the third quarter of 2022.
(Breaking news. There will be an update soon)
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