Spain’s GDP Year-On-Year Change Stands At 6.3%


Preliminary GDP for 2Q2022 shows +6.3% YoY growth vs +5.5% YoY estimated by market consensus. In quarter-on-quarter terms it shows +1.1% q/q vs +0.4% q/q estimated by consensus.

Bankinter’s analysis team’s opinion:
Preliminary data better than expected. After the slowdown in 1Q2022, the second quarter has been favoured by the recovery of Services activity and international Tourism. In our Q3 2022 Strategy we revise the projections for the year to +4.0% YoY and 2.6% YoY 2023e, in any case, risks remain skewed to the downside given the persistence of inflationary tensions, the tightening of monetary policies and pending geopolitical uncertainties.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.