Spain's economic growth accelerates by 1.4% in 2014
- 9 years ago
There has been a big pick up in Spain’s economy helped along by consumer prices falling further.
Preliminary figures show notable annual growth for the first time since the crash nearly seven years ago.
At the same time inflation was down one point four percent in January from a year earlier, which the government hopes will boost spending.
The first estimate from the National Statistics Institute was that the Spanish economy expanded 1.4 percent in 2014 from a year earlier, with the pace increasing in the final months.
Economic output also rose 2.0 percent in the fourth quarter from a year earlier, beating economist expectations.
GDP has risen for the last six quarters.
Businesses have benefited from lower energy costs, the weaker euro, and reduced personal and company taxes.
And the eurozone’s fourth-largest economy is no longer dependent on exports with business investment and consumer spending increasing.
After the bursting of its property bubble in 2008 Spain’
Preliminary figures show notable annual growth for the first time since the crash nearly seven years ago.
At the same time inflation was down one point four percent in January from a year earlier, which the government hopes will boost spending.
The first estimate from the National Statistics Institute was that the Spanish economy expanded 1.4 percent in 2014 from a year earlier, with the pace increasing in the final months.
Economic output also rose 2.0 percent in the fourth quarter from a year earlier, beating economist expectations.
GDP has risen for the last six quarters.
Businesses have benefited from lower energy costs, the weaker euro, and reduced personal and company taxes.
And the eurozone’s fourth-largest economy is no longer dependent on exports with business investment and consumer spending increasing.
After the bursting of its property bubble in 2008 Spain’