The risk rating agency said today that the growth of the Spanish economy continues to strengthen in the second quarter of 2015 by increasing confidence in the financial sector, new credit and improving labor market, other aspects.
In a press release, the agency underlines that Fitch Fundamental Index for Spain no adverse subcomponents in this quarter for the first time since the global financial crisis began, so that keeps a score of +6, while asserting that the recovery of the key sectors in Spain remains strong.
The agency underlines the momentum of the Spanish economy driven by the acceleration of loan growth and it expects further rise in lending thanks to solid economic forecasts for Spain.
Fitch highlights the new housing credit and consumption, which continues to grow at double-digit rates year after year, and says lending conditions are favorable to competition between banks to attract customers.
In addition, Fitch highlights the positive trends in the activity of SMEs and the reduction of unemployment, but warns that its rates growth may not be maintained when the fields begin to normalize.
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