Thursday, April 30, 2015

The Spanish economy strengthened in the first quarter and grow … – Yahoo Finance Spain

Madrid, April 30 (EFE) .- The growth of the Spanish economy has strengthened in the first quarter and GDP has returned to grow up to 0.9% quarter on quarter, representing an improvement of two tenths over the last quarter of 2014, an improvement from the last estimate made by the Bank of Spain.

The National Institute Statistics (INE) has released today the quarterly GDP advance data to be confirmed on May 28, which would mean that the economy now totals seven consecutive quarters of increases.

In addition, annual GDP rate in the first quarter of 2015 increased 2.6% compared to 2% in the fourth quarter last year.

From the 0.1% GDP growth recorded in the third quarter of 2013 to the 0.9% increase that had in the first quarter, economic activity on quarter has advanced eight tenths, touching almost a percentage point.

The Secretary of State for Budgets and Expenditure, Marta Fernández-Currás has linked GDP growth structural reforms adopted by the Government and external factors that occur in Europe.

Speaking to EFE, Fernandez-Currás stressed that the favorable situation in Europe ” permeates his bonanza to the Spanish economy has undertaken a series of reforms that benefit. “

And in the fourth quarter GDP rose 0.7% thanks to pull consumption of households and increased investment, due to the improvement in capital goods and construction sector.

Indeed, the latest economic bulletin of the Bank of Spain has indicated that the building will continue to improve in the coming months and the director of studies of this organism, José Luis Malo de Molina, he has said that there is already a “gradual” recovery and “moderate” in the housing sector, and that in the coming years will contribute to GDP growth providing ” a “year.

tenths

Moreover, the INE shows that the annual growth rate of the economy has been rebounding from a 0.6% rate in the first quarter of 2014 to 2.6 % in the same period this year.

The improvement of Spanish GDP was reflected at the end of 2014 when the economy grew 1.4%, above the estimate made by the Executive, which represented the first real growth of the Spanish economy after five years of recession and in 2010 the rate of GDP stagnated at 0%.

Analysts polled by EFE highlighted the momentum of consumer spending and industrial investment, and in this respect, the analyst Func, Maria Jesus Fernandez has agreed that domestic demand “has thrown a lot” and stressed that this increase in consumption has led to increased imports and to a lesser extent exports.

“Imports are triggered when domestic demand grows. It seems that there has been a deterioration of important foreign sector with a negative contribution to GDP, “he said, noting that this skinny recovery point.

Fernandez highlighted that negative inflation, which has led to an increase in disposable income, coupled with the impact of personal income tax reform, the best credit and external factors such as falling oil prices helped to GDP growth.

However warned that the exogenous factors “will go running out” and expects GDP to grow similarly in the second quarter but slow down “a little” in later.

The senior economist of the Austrian Institute for Advanced Research IHS Raj Badiani states that “the recovery gathers momentum with an encouraging pace,” due in large part to the best financial conditions and the fall in oil prices, which “will help accelerate the economy over 2015″.

The quarterly increase of 0.9% of GDP between January and March contrasts with growth of 0.3% in the same quarter of 2014, and with the fall of three tenths occurred in the first three months of 2013.

According to INE statistics, GDP increased 1.4% in 2014 after falling 1.2% in 2013, 2.1% in 2012, 0.6% in 2011 and stagnate . at 0% in 2010

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