The Bank of Spain forecast a year-end closing with a high rate of growth – Investing.com Spain

MADRID (Reuters) – The Bank of Spain said Wednesday that calculates a quarterly growth of Gross domestic Product (GDP) of the Spanish 0.7 per cent in the last three months of the year, the same as that registered in the previous period, thanks mainly to the strength of domestic spending.

“The prolongation of the intense process of employment generation and the persistence of favorable financing terms would have been followed by holding the expenditure of households on consumer goods and services, at a rate similar to that of the recent past”, said the agency is headed by Luis Maria Linde, in his monthly newsletter.

The forecast of the Bank of Spain coincides practically with the advanced the previous day by the minister of Economy, Luis de Guindos, who felt the growth quarter-on-quarter in the fourth quarter at 0.7-0.8 per cent.

The December report of the central bank also noted that investment in construction and non-financial companies could have regained even a greater dynamism of October to December, after the pattern of slowing observed in the third quarter.

with Regard to trade, the Bank of Spain said that in the last stretch of the year it had registered a “tone of greater firmness” in the flows of exports and imports in front of the set of emerging economies.

On the plane of economic policies, the agency said that the uncertainty had tended to be lessened with the constitution of the Government, and noted the adoption last week of the fiscal measures to increase revenues and facilitate fiscal consolidation.

“even Though these actions may lead to some cost of short-term in terms of activity, the correction of the budgetary imbalance is a priority to reduce the vulnerability of the Spanish economy, given its dependence on external financing,” he said.

In any case, the agency warned that there are still uncertainties in the definition of the agenda of structural reforms, which it considered necessary to raise the pace of the expansion of the activity and creation of employment in a lasting way.

The Bank of Spain raised last week its growth forecasts of the Spanish GDP this year and next year to 3.2 percent and 2.5 percent, respectively, the same figures than the ones provided by the Spanish Government in their latest revision.

legal Notice: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.