Good news for Spain’s economy as expansion steps up a gear

THE latest data released on Thursday September 26 revealed that the economy in Spain in the third quarter of this year has grown at the fastest annual rate since the financial crisis in 2008.

INE, the statistic bureau, showed that the economy grew by 3.4 per cent between July and September in 2015 in comparison with last year. The figure is also an increase on the second quarter´s rate which was 3.2 per cent.

The bottom line is that Spain is now expected to have its most robust economic showing since 2007.

Domestic spending was the main contribution to the good figures with household spending up by 3.5 per cent and investment up an impressive 6.5 per cent.

The country also registered over 433,000 new jobs in 2014 and the government expects a total of 600,000 more this year.