Provisional 2017 data shows continued expansion in Spanish economy.
Spanish GDP grew by 0.7% in Q4, a minimal decline of 0.1% compared to the previous quarter, while annual growth reached an impressive 3.1%.
Despite Catalunya’s disputed independent referendum in October and the political uncertainties which still surround the region, Spain’s economy remains strong.
GDP has now shown four years of consecutive growth, rising by 2.2% in 2014, 3.8% in 2015, and 3.0% in 2016 along with the 3.1% reported in 2017, reports newspaper Murcia Today.
The annual inflation rate stood at 0.5% in January, after dropping from 1.1% in December and 1.6% in November, according to provisional data published by the central statistics unit.
In early 2017, inflation rose to 3% but then fell to 1.5% in June where it remained at a stable level until December; the fall in inflation can be attributed to lower energy prices, according to the data published this week.