Spain recovers pre-Covid GDP
Miguel Navascués| Although domestic demand has been in decline for two quarters, the recovery in tourism (whose revenues grew 38% year-on-year in 1Q23) and exports (+14%) have finally allowed Spain to recover its pre-Covid GDP in 2Q23. It is the last eurozone country to achieve this (while neither the Czech Republic nor Japan have yet done so) two years later than the average of the 19 most significant euro countries….