Private consumption and housing market to boost Spain's economy
Spanish gross domestic product (GDP) will grow by 2.6% in 2016, up from the 2.1% predicted two months before, according to high regarded local survey of financial experts.
The bimonthly forecast from the board of experts and private analysts of the Savings Bank Foundation (FUNCAS, as abbreviated in Spanish) suggested growth will be encouraged by an improvement of private consumption and the recovery of the housing market.
The unemployment rate is also expected to decrease to 22.5% in 2015, and will drop to 20.9% in 2016.
This FUNCAS experts also noted that the improvement in growth would be based on internal demand, with no additional contribution from exports.