Spain’s economy may be beginning to recover, even to boom, from the global Panic of 2008.

In its second estimate of gross domestic product for the quarter, statistics bureau INE said the eurozone’s fourth-largest economy grew 3.4% in the July-to-September period compared with the year earlier period, up from a rate of 3.2% in the second quarter.

To be sure, these are only two quarters’ worth of data. It’s also unclear how much of this growth is spread throughout Spain, and how much is concentrated in the secessionist province of Catalonia.

This will be interesting to watch, both for the improvement’s impact on the secession movement and for any later impact from a continued movement toward secession.