SPAIN’S economy has surpassed its pre-crash peak after it grew 0.9% in the second quarter of 2017.
Its figures were among the strongest of a batch of European economic data released today.
It comes after the country was bailed out in 2012 by the EU at the height of Europe’s debt crisis.
Sweden’s statistics office suggested the country’s economy grew by a faster-than-expected rate of 1.7% in the April-to-June period.
France’s economy grew by 0.5% in the second quarter of the year, the same rate as in the previous three months, helped by higher exports, notably the sale of a €700m ocean liner, the Meraviglia.
Confidence levels in France have also been boosted by the recent election of President Emmanuel Macron, although that has begun to fade a little.
Meanwhile, the UK only grew by 0.3%.
Spain’s exports have been growing and unemployment falling in recent months.
The unemployment rate has dropped from 25%, during its worst times, to 17.2%.
Raj Badiani, economist at IHS Markit, said: “We believe consumer spending growth appeared to regain some momentum in the second quarter, continuing to ride on the back of strong employment creation and a comfortable financial climate.”
The Spanish government has raised its forecasts for economic growth this year and now expects the economy to grow by at least 3% in 2017.
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