Spanish economy shrugs off political deadlock

Economy grew by a better than expected 0.8 per cent in second quarter

25th August, 2016
Spanish prime minister Mariano Rajoy facing a confidence vote. Pic: Getty

The Spanish economy overcame the country’s political impasse to grow by more than initially estimated in the second quarter, led by a pick-up in investment and exports.

Gross domestic product grew 0.8 per cent compared with a provisional reading of 0.7 per cent, the country's National Statistics Office said this morning. From a year earlier, the economy expanded 3.2 per cent, while adding about 484,000 new jobs.

Analysts said the performances of exports and investment were surprisingly...

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