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Spain | Economic growth closed up in 2016 and shows biases for 2017

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The Spanish economy gained traction at the end of 2016. It is estimated that quarterly GDP growth (QoQ) could have been 0.9% in 4Q16, one tenth more than estimated a month ago and two-tenths above the increase observed in 3Q16. Thus, 2016 would have closed with an annual average growth of around 3.3% and there would be a moderate upward bias over the 2017 forecast (2.5%).

Geographies:Spain

  • Domestic expenditure on consumption and investment balance out
  • Exports have corrected upwards after a disappointing 3Q16
  • The labour market recovery was reaffirmed at the close of 2016
  • Headlight inflation exceeds 1.0% for the first time since 2013
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