News: Strong Economy for Spain
As we know, making predictions is difficult - especially about the future. Springtime is generally a good time for analysts to put forth their forecasts for the coming year - on the one hand, one has gathered already enough data in order to get a "feel" for where the markets are going, on the other hand, it is still early enough in the year so that no one can accuse one of simply stating the obvious.
Last week we already mentioned the strong real estate numbers of estimated 5% price increase and 10% in transaction volume increase for the coming year. During the past week also BBVA joined the chorus proclaiming a stellar year for Spain's real estate sector and the country's economy in general.
The strong rebound in the real-estate sector is also visible in Spain's GDP, predicted by the bank (in line with other analysts) to grow by about 3% this year - nearly double the 1,8% annual growth pace forecasted for the Eurozone combined. Spain's strong economic growth is driven to a large extent by the current rebound in the real estate sector, but also by strong domestic consumption.