MADRID (Reuters) – Despite a lackluster international context, the Spanish economy has gained momentum in recent months supported by improving financial conditions year, the confidence and the labor market
The central bank said on Tuesday it expected to growth of GDP between October and December 2014 will amount to 0.6 percent on-quarter, raising the annual rate to 1.9 percent.
In the third quarter, GDP grew by 0.5 percent on-quarter and year rate was 1.6 percent, according to data National Institute of Statistics late November.
“As in quarters above, this increase in activity will be supporting in the strength of private domestic demand, while net exports maintain a slightly negative contribution to the product, “said the institution.
With this closure in 2014, the Bank of Spain estimated that GDP would increase by year by 1.4 percent, tenth more than in the last forecast.
And for 2015, the Bank of Spain maintained its forecast for GDP growth of 2.0 percent despite the worsening in foreign markets, especially in the countries of the euro area.
(Reporting by Robert Hetz. Edited by Rodrigo Charme)
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