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Saturday 20 January 2018

Spanish growth strongest since 2007

Unemployment remains at a very high rate in Spain
Unemployment remains at a very high rate in Spain

Spain's economy grew by 0.9% in the first quarter compared to the previous three months, its strongest rate since before the economic crisis began in 2007.

It was Spain's seventh consecutive quarterly growth figure.

Spain was hit hard by the global financial crisis and emerged from a double-dip recession only at the end of 2013.

The Spanish government predicts the economy will expand 2.9% this year and by the same rate in 2016.

The country still has a 23.8% unemployment rate. It is more than double that for people under 25.

The ruling conservative Popular Party hopes the recovery can stem its plunging popularity ratings in time for municipal and regional elections on May 24 and general elections later this year.

Press Association

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