Spanish economic growth slows

By Joe Gerrard Tuesday, 30 January 2018 11:38 0
SLOW GROWTH: Spanish GDP rose by 0.7 per cent from October to December last year SLOW GROWTH: Spanish GDP rose by 0.7 per cent from October to December last year Wikimedia

THE Spanish economy grew by around 0.7 per cent between October and December, less than the previous quarter and Bank of Spain predictions.

The country’s Gross Domestic Product (GDP), the measure of total estimated economic activity at a given time, grew in total by 3.1 per cent in 2017.

Provisional data published by the country’s National Institute of Statistics (INE) could be down to a lower than normal level of tourism in Cataluña and retail trade, according to reports.

A Bank of Spain quarterly report suggested the ongoing independence crisis in the province could have had some impact but that it would have been contained in Cataluña.

Last year marked the country’s return to pre-financial crisis GDP levels. Consumption levels are still yet to reach the position they were at in 2008, with unemployment reportedly resulting in Spanish people buying less and more goods being exported.

Comments (0)

There are no comments posted here yet

Leave your comments

Posting comment as a guest.
0 Characters
Attachments (0 / 3)
Share Your Location

Poll of the Week

Do you think it’s important to speak Spanish, living or holidaying in Spain?

New online edition graphic

Create Spain Alert

Do you want to be the first to receive our latest news from Spain? Subscribe here.