FX.co ★ Spain’s Growth Momentum Eases as Q1 2026 GDP Expansion Slows to 0.6% QoQ

Spain’s economic growth decelerated at the start of 2026, with gross domestic product expanding by 0.6% quarter-over-quarter in the first quarter, down from 0.8% in the previous three-month period. The latest figures, updated on 30 April 2026, indicate a moderate cooling in momentum following a stronger performance at the end of last year.

In the fourth quarter of 2025, Spain’s GDP had grown by 0.8% compared to the third quarter, underscoring a more robust expansion heading into the turn of the year. The current 0.6% reading, measured on the same quarter-over-quarter basis, suggests that while the economy continues to grow, the pace has slowed modestly.

The comparison highlights a shift from stronger late-2025 dynamics to a more measured start to 2026, as investors and policymakers assess whether this softening marks a temporary pause or the beginning of a more prolonged moderation in Spain’s growth trajectory.