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Strong GDP growth for Spain: 3% at end 2016
The quarterly growth was of 0.7% in the fourth quarter of 2016 as the Instituto Nacional de Estadistica just reported. On a yearly basis, the growth stood at 3% at the end of 2016.
As we reported in our news mid-February, the European Commission expects a slightly lower growth for 2017 and 2018 of 2.3% and 2.1%. Check our interactive maps of the expected growth for any European country.
The growth came from domestic demand +2.2% and foreign demand +0.8%.
Employment improving, Construction as well
The construction sector is improving as well with an annual growth rate of 1.9%
Employment conditions improved as well and unemployment decreased by 463.000 full-time equivalent jobs in 2016. Check the latest economic numbers here.
Since early 2014, the quarterly GDP growth of Spain as been higher than the European average.