Spains road to recovery continues with the countries economy grew 3.2% in 2016. Posting the same figures as the previous year, the GDP growth is among the best of all European countries.
Spain has now recorded 13 consecutive quarters of economic growth
Following a damaging double dip recession the Eurozone’s fourth largest economy recorded 0.7% growth in the final quarter of last year, representing thirteen consecutive quarters of growth since the third quarter of 2013.
Boosted by low petrol prices, exports, falling unemployment combined with high domestic demand and last years record breaking tourism sector, economically 2016 was amongst the countries best performing years in over a decade.
Official estimates from the Bank of Spain predict growth will continue into 2017 although it is expected to slow slightly to around 2.7%, nevertheless still outstripping that of the Eurozone’s average 1.7%.
With economic output now reaching 80% of what it was prior to the crash of 2008, Spain has transformed from a recovering economy to a country with increased prospects for employment, wage growth and a growing confidence across countless industries including the real estate sector.