Bank of Spain governor sees double-digit GDP growth in third quarter

MADRID, Sept 1 (Reuters) - The Spanish economy will likely grow in double digits in the third quarter after a record drop in the preceding three-month period due to the impact of the coronavirus pandemic, Bank of Spain governor Pablo Hernandez de Cos said on Tuesday.

“It is likely that we will see double-digit growth rates in the third quarter,” De Cos said, adding that the central bank would update its outlook in around two weeks.

The Spanish economy was one of the worst-hit by the pandemic and subsequent lockdowns in Europe, posting an 18.5% contraction in April-June from the previous quarter. The government has said the economy has been growing at a rate of over 10% so far this quarter. (Reporting by Jesús Aguado, editing by Andrei Khalip)