Spain: economic growth accelerated in the last lap of 2014

The trend in variables indicates that the rate of the Spanish economy’s expansion intensified at the end of 2014. With around 80% of 4Q14 information available, BBVA’s MICA model estimates quarterly (QoQ) GDP growth of 0.7% which, if confirmed, would be a stronger increase than expected at the beginning of the quarter (BBVA Research: 0.5% QoQ) .The uptick in activity is linked to an acceleration in job creation which is likely to have given rise to a stagnation or even a marginal fall in productivity.

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