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Spain Q2 GDP confirmed at 0.7% as domestic demand keeps growth resilient

Spain Q2 final GDP +0.7% vs +0.7% q/q expected Prior +0.6% The breakdownThe final estimate confirms that the Spanish economy grew by 0.7% in the second quarter, accelerating slightly from 0.6% growth in Q1. Domestic demand remains the main engine of the economy, contributing 1.1% to quarterly GDP growth. By aggregate demand, household consumption increased by 1.2% and government consumption by…

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Spain Q2 final GDP +0.7% vs +0.7% q/q prelim

Spain Q2 final GDP +0.7% vs +0.7% q/q expected Prior +0.6% The breakdownMore to follow... What does the data measure?GDP measures the total value of goods and services produced in Spain. The quarterly reading offers the clearest broad measure of how quickly the economy is expanding or contracting. Why does it matter to markets?Spain has continued to outperform much of the euro area, so the…

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What are the main events for today?

EUROPEAN SESSION In the European session, we have the final Spain's Q2 GDP which is expected to confirm a 0.7% quarterly growth vs 0.7% in the preliminary reading. The data won't change anything for the ECB, though, so the market reaction will likely be muted. The markets are currently focused on renewed hopes for quick de-escalation and the reopening of the Strait of Hormuz following yesterday's…

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