Spanish miracle

You can help expand this article with text translated from the corresponding article in Spanish. (September 2022) Click [show] for important translation instructions. View a machine-translated version of the Spanish article. Machine translation, like DeepL or Google Translate, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Wikipedia. Consider adding a topic to this template: there are already 5,023 articles in the main category, and specifying|topic= will aid in categorization. Do not translate text that appears unreliable or low-quality. If possible, verify the text with references provided in the foreign-language article. You must provide copyright attribution in the edit summary accompanying your translation by providing an interlanguage link to the source of your translation. A model attribution edit summary is Content in this edit is translated from the existing Spanish Wikipedia article at [[:es:Milagro económico español]]; see its history for attribution. You may also add the template {{Translated|es|Milagro económico español}} to the talk page. For more guidance, see Wikipedia:Translation.

The Spanish miracle (Spanish: el milagro español) refers to a period of exceptionally rapid development and growth across all major areas of economic activity in Spain during the latter part of the Francoist regime, 1959 to 1974,^[1] in which GDP averaged a 6.5 percent growth rate per year,^[2] and was itself part of a much longer period of an above average GDP growth rate from 1951 to 2007.^[3] The economic boom came to an end with the 1970s international oil and stagflation crises that disrupted the industrialised world although several scholars have argued that "liabilities accumulated during years of frenzied pursuit of economic development" were in fact to blame for the slow economic growth of the late 1970s.^[4]