SPAIN

摘要

GDP growth moderated slightly from 0.7% (q-o-q) in Q1 to a still-solid 0.5% in Q2, weighed down by a contraction in gross fixed investment. Still, the 2.3% advance in y-o-y terms was encouraging, keeping the 2019 GDP consensus unchanged at 2.3% this month. New job creation surpassed 333,000 in Q2, although the still-high unemployment rate of 14% suggests the need for additional reforms in order to broadly improve living standards.