The Spanish economy is experiencing continued growth and the future is looking bright. The Spanish economy expanded at a sturdy rate of 0.8% in Q1, the unemployment rate is falling and there is a real sense of optimism in the real estate sector throughout Spain. The export sector is benefiting from strong global demand. The IMF predicts that the UK (2.0%) and the US (2.3%) will be among the top performers when it comes to the world’s large economies in 2017. The IMF estimates total global economic growth for 2017 will be 3.5%.
Growth for Spain in 2017 is estimated to be 2.6%, up three-tenths on the last forecast, in January, and putting the country slightly ahead of the United States and Britain in terms of GDP growth for this year. Reform is still needed and employment contracts and Social Securtiy payments are areas of great concern for the forthcoming budget 2017.
There’s a long way to go, but the corner has been turned and we are seeing enquiries for businesses increase and confidence is returning.
