Spain’s economic growth reaches pre-crisis level

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© Flickr by toypaj.

SPAIN’S economy grew by 1 per cent between April and June, according to new figures from the National Statistics Institute (INE). The data, coming on top of steady improvement in previous quarters, confirms economic growth recovering to the same level as 2007, before the crisis hit.

The INE says that consumer spending and investment is fuelling growth in 2015, with household consumption up 1 per cent in the second quarter of the year, while investment grew by 2.2 per cent in the same period.

Although unemployment in Spain remains higher than much of the European Union at 22 per cent, it’s thought that increasing numbers of people in work is helping fan increased consumer confidence. 

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