Spain's economic growth continues apace

Spain's economy continues to be one of the fastest-expanding in Europe as GDP rose for the 14th quarter. GDP was up 0.8 percent.

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Spain's economic growth continues apace

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Spain’s economy continues to turn in strong growth, making it one of the fastest-expanding in Europe.

Preliminary figures from the national statistics institute show gross domestic product rose by 0.8 percent in the first three months of this year from the previous quarter.

It was Spain’s 14th consecutive quarter of growth.

The Madrid government has said growth for the whole year should reach 2.7 percent, an upward revision from its previous 2.5 percent forecast.

Economy Minister Luis de Guindos also expressed confident about Spain’s unemployment situation, forecasting the sustained economic growth will create one million new jobs in the next two years.

The country still has the second higher unemployment in the eurozone behind Greece, but it is down from 27 percent in 2013.

The jobless rate stood at 18.75 percent of the workforce between January and March 2017 having risen for the first time in a year, though the increase is likely linked to the fact that Easter fell outside that period this year.

The Easter holiday creates many seasonal, short-term jobs in Spain’s tourism sector.