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MNI BRIEF: Spain Q2 GDP Revised Sharply Downward

(MNI) LONDON
(MNI) London

The Spanish economy grew by much less than previously reported in the second quarter, expanding by just 1.1% between April and June, down from the initial estimate of 2.8%, underlining the headwinds European economies still face. The first result, reported at the end of July, was much higher than analysts had expected.

On an annual basis, Spanish output expanded by 17.5%, down sharply from the 19.8% pace reported last month.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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