What is the outlook for the Spanish economy in 2020?

Summary

The Spanish economy ends the second decade of the 21st century with a GDP growth rate close to its potential and an unemployment rate of 14.3%. During the last three quarters of 2019, GDP has grown at an annualized quarterly rate of 1.6%.

Key points

• Key points:
• After growth of over 4% in some quarters at the start of the recovery, the slowdown has been drastic.
• This is also the case for the job creation rate and for unemployment reduction.
• The unemployment rate exceeded 27% in 2013 and fell to below 14% in the first quarter of 2019.

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