Funcas predicts stronger growth in Spain

Cartoon Funcas 2

The group, which represents the Foundation of Savings Banks, reappraised estimates in the wake of improved performance in the construction sector and higher consumption.

Private consumption is set to rise by 3.5% this year on the back of a reduction in oil prices. This will take consumption figures back to pre-crisis territory. In addition, Funcas says that the structural deficit is on course to fall to 3.3% by 2016.

The foundation also predicts jobs growth of 890,000 between this year and next, which will mean that the unemployment rate drops to 22.3% this year, and 20.4% in 2016.



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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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