Quarterly National Spanish Accounts

This preview of results is compiled with available information, with most indicators providing results up to the second month of the quarter, to which information from advance data, estimates and other additional sources have been added, in line with the recommendations of Eurostat and from other international statistical bodies.

All information corresponds to data adjusted for seasonal and calendar effects. The variation rates and contributions to GDP growth are rounded to one decimal place.

In terms of volume, Gross Domestic Product (GDP) increased by 0.7% in the second quarter compared with the previous quarter. This rate was one tenth higher than that of the first quarter of 2026.

Domestic demand contributed 0.6 points to quarter-on-quarter GDP growth. On the other hand, external demand contributed 0.1 points.

By demand aggregates, household final consumption expenditure rose by 0.7% and that of Public Administrations by 0.3%. On the other hand, gross fixed capital formation recorded a variation of 0.5%.

Exports of goods and services recorded a quarter-on-quarter rate of 0.8%, 1.4 points higher than in the first quarter. Meanwhile, imports showed a variation of 0.6%, a rate 1.5 points above that of the previous quarter.

On the supply side, all major economic sectors showed positive quarter-on-quarter rates in their value added. Thus, industrial branches rose by 1.0% quarter-on-quarter. Within these branches, manufacturing industry displayed an increase of 0.7%, which was three tenths higher than that of the previous quarter.

The gross value added of Construction grew by 0.6% quarter-on-quarter, eight tenths more than in the previous quarter. Services grew by 0.8%, a similar rate to that of the first quarter.

On the other hand, primary branches recorded a quarter-on-quarter variation of 0.2%, compared to 3.3% in the previous quarter.

The year-on-year variation of GDP was 2.7% this quarter, a rate similar to that of the previous quarter.

Domestic demand contributed by 3.3 points to year-on-year GDP growth. On the other hand, external demand contributed by -0.6 points.

In terms of aggregate demand, final consumption expenditure had a similar rate to that of the first quarter, with a 3.1% year-on-year rise. Household spending slipped by one tenth to a rate of 3.2%, while Public Administration spending went up two tenths to stand at 2.7%.

On the other hand, gross fixed capital formation registered a variation of 4.7%, a rate one point under that of the previous quarter.

Exports of goods and services recorded a year-on-year rate of 0.3%, five tenths less than in the first quarter of 2026. Meanwhile, imports showed a variation of 2.1%, a rate 1.2 points lower than that of the previous quarter.

In terms of supply, all major sectors of activity recorded positive year-on-year rates in value added. Thus, that of the industrial branches grew by 1.8%, and, within these branches, manufacturing industry increased by 1.4%.

The gross value added of Construction rose by 4.1% year-on-year, Services by 3.4%, and that of primary branches by 3.2%.

The GDP at current prices increased by 5.9% year-on-year, one tenth lower than in the previous quarter. The quarter-on-quarter increase was 0.9%.

The GDP deflator grew by 3.1% year-on-year, a rate one tenth lower than in the previous quarter. In quarter-on-quarter terms, it increased by 0.2%.

In terms of income, employee remuneration went up by 7.3% in the year-on-year, with a 3.1% rise in the number of full-time equivalent jobs for employees and a 4.1% increase in the average remuneration per full-time equivalent jobs for employees. In the quarter-on-quarter rates, total remuneration rose by 1.8%. The number of full-time equivalent jobs for employees presented a rate of 0.7% and the average remuneration notched growth of 1.1%.

On the other hand, gross operating surplus/gross mixed income (GOS/MI) grew by 4.9% year-on-year, one tenth higher than the previous quarter. On a quarter-on-quarter basis, the GOS/MI decreased by 0.1%.

Finally, the amount accrued in taxes on production and net imports of subsidies recorded a year-on-year increase of 3.6%, compared to 5.9% in the previous quarter. In quarter-on-quarter terms, it varied by 0.7%.

The number of hours actually worked grew by 2.8% year-on-year this quarter, six tenths more than in the previous quarter. The quarter-on-quarter rate stood at 0.8%.

Full-time equivalent jobs grew by 2.3% year-on-year, five tenths lower than the previous quarter. In quarter-on-quarter terms, the variation was 0.4%.

On the other hand, productivity per full-time equivalent job recorded a year-on-year rate of 0.4% this quarter, while productivity per hour actually worked stood at -0.1%. In quarter-on-quarter terms, these rates varied between 0.3% and -0.2% respectively.

The INE has updated today both the seasonally and calendar adjusted data of the Quarterly Spanish National Accounts from the first quarter of 2025. All the results of this operation are available at INEbase.

In accordance with the Commission's Delegated Regulation (EU) 2023/137, the INE has begun to work on incorporating the new National Classification of Economic Activities CNAE−2025 in all its statistical operations.

In the case of the CNTR, the first publication of results with CNAE−2025 will take place in September 2030.

Regarding data quality, Eurostat conducts an annual assessment of the quality of the National and Regional Accounts in accordance with Article 4 of the ESA 2010 Regulation (EU Regulation No. 549/2013) by analysing quality indicators relating to completeness, policy and practice of reviews, timeliness, consistency and documentation of methodology. The 2025 edition of the report, its most recent, can be consulted here.