The Spanish economy grew 1.4% in 2014, after five years of recession or no growth, said Thursday the National Statistics Institute.
The Spanish economy grew 1.4% in 2014, after five years of recession or no growth, said Thursday the National Statistics Institute (INE).
The Gross Domestic Product (GDP) fourth largest economy in the euro zone rose to 1.058 billion euros, said the INE said in a statement.
In the last quarter of 2014, GDP grew 0.7% compared to the same period in 2013, said the institute.
The economic recovery encourages individuals and businesses to consume more and buy capital goods, automobiles and appliances, the INE said.
In contrast, foreign demand continued being negative in the fourth quarter 2014, although less than in the quarter precedent.
Almost two thirds of Spanish exports are destined for the European Union (EU) and Spain suffered from a lack of demand for some of its neighbors, particularly France.
The Spanish government is committed to accelerating growth in 2015.
On Tuesday, during the debate on the nation in parliament, the head of government, Conservative Mariano Rajoy announced that the Spanish growth in 2015 could reach 2.4%, above the initial forecast of 2 percent.
However, Spain continues to have massive unemployment, which in December 2014 was 23.7 percent.
In the Eurozone only Greece has a higher rate of unemployment, 25.8% of the workforce in November.
erp
No comments:
Post a Comment