Spanish GDP up by 1%

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Thursday, Jul 30 2015

GDP generated by the Spanish economy registered growth of 1,0% in the second quarter 2015 from the previous quarter, in line with market forecasts, according to quarterly GDP advance estimate. This rate is a tenth up from the previous quarter(0,9 %). The annual change in the GDP in second quarter 2015 is the 3,1%, In front of 2,7% of first quarter.

The annual rate for the overall Consumer Price Index (CPI) in June was 0.1%, in line with market expectations and three tenths over than that registered in the previous month. The groups that most contributed to this variation w ere:  Housing, whose annual rate increased one point and a half up to –0.9%, due to the increase in the prices of electricity this month, as compared to the decrease registered in June 2014. It was also worth noting the decrease in the prices of gas, which remained stable the previous year. 

Data did not have any major impact on euro which is currently being traded few points above 1.0960 level. Pair is likely to find support around 1.09 handle and resistance above 1.10 area. Later today, in the US session, Advance GDP and Unemployment Claims figures are scheduled for a release.

More in this category: « Building Approvals down by 8.2% in June German unemployment unexpectedly rose in July »

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