Islands on the road to recovery


GREAT news for the Balearic Islands as its growth rate during the first three months of 2015 has reached 2.2 per cent.
All the means by which the Islands’ growth is measured are suggesting recovery, according to a study titled ‘The Economic Moment of the Islands,’ published by the Regional Department of Economy and Competitiveness.
The gross value added (GVA) rate has gone from 0.2 per cent during the first three months of 2014, to 2.1 per cent this year, marking the highest increase in a first quarter since 2007, and continuing with a positive trend which is speeding up in the Balearic Islands, according to acting Head of the Economy and Statistics Department, Joana Perello.
The leading service sector registered a 2.4 per cent increase, which represents a stark contrast with the modest 0.9 per cent increase of the same period of 2014.
For the first time after the crisis started, sectors such as the industry and construction have registered growth, with 0.7 per cent and 1.5 per cent respectively.


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