Spain's economy is booming

Spain flags celebration footballREUTERS/Marcelo Del PozoSpanish fans celebrate after the 2010 World Cup Group H match between Spain and Honduras at Ellis Park stadium in Johannesburg June 21, 2010.

Spanish GDP for the first quarter of 2015 was just announced, and it was even better than expected — GDP rose by 0.9%.

The country is quickly becoming Europe’s star performer, and this is its fastest growth since 2007. Analysts were expecting a 0.8% expansion.

Economists are forecasting eurozone growth to come in at 0.5% this quarter — but some project a larger expansion.

Dutch bank ABN AMRO suggested that the growth could be as high as 0.7%, driven by consumer spending and lower fuel prices. The bank’s model actually suggests an even faster rate of growth, running at more like 1%.

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