Spain’s economy expanded by 0.7% in the second quarter, edging past the 0.6% consensus and quickening from 0.6% in the previous three months, provisional figures from the National Statistics Institute showed on Tuesday. Year-on-year growth held at 2.8%, beating the 2.5% forecast and confirming the country’s status as one of the euro area’s fastest-growing members. INE said domestic demand added 0.9 percentage point to quarterly GDP, as household spending rose 0.8% and business investment jumped 2.1%. External trade subtracted 0.1 point amid subdued exports. Separate data indicated June retail sales surged 6.2% from a year earlier, accelerating from 4.8% in May and pointing to continued consumer resilience. The report marks the eighth consecutive quarter in which Spanish output has grown by at least 0.6%. Economy Minister Carlos Cuerpo said the figures strengthen the government’s aim for about 2.6% full-year growth, despite weaker activity elsewhere in Europe and ongoing trade frictions stemming from U.S. tariff policies.
3rd month in a row of US home prices falling https://t.co/Qw5weZchKg
🇺🇸Home prices decline again in May ⚠️ 🏘️S&P CoreLogic Case-Shiller National Home Price Index 📉 National: -0.3% m/m in May -- 3rd consecutive decline 📉20-city composite: -0.3% 📉10-city composite: -0.3% https://t.co/2j8mgzDU04
The Case Shiller index fell again this month.The only other two times home prices have declined in recent history was during Great the Recession and the 2022 Fed tightening cycle. https://t.co/RBdXM5fLMz