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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain Gross Domestic Product QoQ climbed to 0.7% in Q2 2026
FMPMonthlyReleased July 2026
Spain Gross Domestic Product QoQ climbed to 0.7% in Q2 2026, released July 2026, up 0.1% from March's 0.6% reading. The print exceeded the 0.6% consensus by 0.1%.
Latest Release
0.7
Actual
0.6
Consensus
0.6
Previous
Median Absolute Error
±0.05 percentage points
across last 11 releases
Last Call
Jul 2026
Predicted: 0.6
Actual: 0.7
Error: -0.1
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| BTC/USD | ▲ Direct | +0.79 | CRYPTO | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.65 | COMMODITIES | Moves against | → View |
| EUR/USD | ▼ Inverse | −0.35 | FOREX | Moves against | → View |
| GBP/USD | ▲ Direct | +0.35 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Gross Domestic Product QoQ (Spain) was reported at 0.7% in July 2026. This beat the market consensus of 0.6% by 0.1%. The reading rose from the previous value of 0.6%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 0.7%, ranging from 0.6% to 0.8% across 7 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 0.7%, up from the prior three at 0.67%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Bullish BTC). A secondary relationship exists with XAU/USD, negatively correlated (Bearish XAU). Over the last 11 releases, the Sigmacast model's median absolute error is 0.05%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include S&P Global Manufacturing PMI (Aug 3) and Employment Change (Aug 4).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Gross Domestic Product QoQ - ES
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About Gross Domestic Product QoQ — Spain
DEFINITION
Spain's Gross Domestic Product QoQ rose 0.700000% in Q2 2026, beating the 0.600000% estimate. This marks an increase from Q1 2026's 0.600000%, indicating a modest acceleration in economic growth. Markets will watch upcoming data for confirmation of this upward trend amid steady central bank policy. Updated 7/30/26
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 0.7 %, consensus 0.6 %. Prior reading (Jan 2026): 0.6 %. Before that (Jan 2026): 0.6 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with BTC/USD (Bullish BTC, r=0.79) — a useful reference for crypto-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - ES Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:00 | ES | CPI MoM | 0.2 | 0.6 | 0.2 | 0.20 | Low |
| 07:00 | ES | HICP YoY | 3.8 | 3.6 | 3.7 | 3.75 | Medium |
| 07:00 | ES | CPI YoY | 3.5 | 3.2 | 3.2 | 3.35 | Medium |
| 07:00 | ES | HICP MoM | -0.1 | 0.6 | -0.2 | -0.15 | Low |
| 07:00 | ES | Core Inflation Rate YoY | 3 | 2.9 | 2.9 | 2.95 | Low |
| 07:00 | ES | Gross Domestic Product YoY | 2.7 | 2.7 | 2.5 | 2.60 | Low |
| 07:00 | ES | Inflation Rate YoY | 3.5 | 3.2 | 3.4 | 3.45 | Medium |
| 07:00 | ES | GDP Growth Rate QoQ | 0.7 | 0.6 | 0.6 | 0.65 | High |
| 07:00 | ES | Harmonised Inflation Rate MoM | -0.1 | 0.6 | -0.2 | -0.15 | Low |
| 07:00 | ES | Harmonised Inflation Rate YoY | 3.8 | 3.6 | 3.7 | 3.75 | Low |
| 07:00 | ES | GDP Growth Rate YoY | 2.7 | 2.7 | 2.5 | 2.60 | High |
| 07:00 | ES | Gross Domestic Product QoQ | 0.7 | 0.6 | 0.6 | 0.65 | Medium |
| 07:00 | ES | Inflation Rate MoM | 0.2 | 0.6 | 0.2 | 0.20 | Medium |
| 11:00 | ES | Business Confidence | -2.6 | -2.4 | -2.7 | -2.65 | Medium |
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | ES | Current Account | 1.84 | 1.88 | 4.5 | 3.17 | Low |