25.06.202607:24:19UTC+00Spain GDP Growth Confirmed at 0.6% in Q1

Spain’s economy grew by 0.6% quarter-on-quarter in the first quarter of 2026, down from a 0.8% expansion in the final quarter of 2025 and in line with the preliminary estimate.

On the demand side, household consumption increased by 0.6%, easing from 0.9% in Q4, while public spending returned to growth, rising 0.4% after a 0.9% contraction in the previous quarter. Investment activity weakened markedly: gross fixed capital formation grew by just 0.4%, compared with a 2.1% increase in Q4. In particular, investment in machinery and equipment fell 1.9%, reversing a strong 6.3% gain in the previous quarter.

Externally, exports declined 0.6% following a 0.7% rise in Q4, while imports dropped 1.0%, offsetting a 1.2% increase in the prior quarter.

On an annual basis, Spain’s GDP expanded by 2.7% in the first quarter, unchanged from the previous quarter and consistent with the initial estimate. The Bank of Spain expects GDP to grow by 0.5%–0.6% quarter-on-quarter in the second quarter and projects overall economic growth of 2.3% in 2026 and 1.7% in 2027.