Spain Q2 preliminary GDP 0.8% vs 0.5% Q/Q expected

• Spain Flash Q2 GDP Y/Y 2.9% vs. 2.5% expected and 2.5% prior.
• Spain Flash Q2 GDP Q/Q 0.8% vs. 0.5% expected and 0.8% prior.

Some nice pickup in the Spain's economy while inflation continues to abate. GDP growth Y/Y in Spain averaged 2.03% from 1996 until 2024, so this is good news for the soft landing narrative and should reinforce further as the ECB delivers more rate cuts in the next quarters.