29 Jul, 2017 @ 09:24
1 min read

Spain economy grows THREE TIMES more than UK in second quarter, Sweden booms

Spains economy e

SPAIN’S economy has surpassed its pre-crash peak after it grew 0.9% in the second quarter of 2017.

Its figures were among the strongest of a batch of European economic data released today.

It comes after the country was bailed out in 2012 by the EU at the height of Europe’s debt crisis.

Sweden’s statistics office suggested the country’s economy grew by a faster-than-expected rate of 1.7% in the April-to-June period.

France’s economy grew by 0.5% in the second quarter of the year, the same rate as in the previous three months, helped by higher exports, notably the sale of a €700m ocean liner, the Meraviglia.

Confidence levels in France have also been boosted by the recent election of President Emmanuel Macron, although that has begun to fade a little.

Meanwhile, the UK only grew by 0.3%.

Spain’s exports have been growing and unemployment falling in recent months.

The unemployment rate has dropped from 25%, during its worst times, to 17.2%.

Raj Badiani, economist at IHS Markit, said: “We believe consumer spending growth appeared to regain some momentum in the second quarter, continuing to ride on the back of strong employment creation and a comfortable financial climate.”

The Spanish government has raised its forecasts for economic growth this year and now expects the economy to grow by at least 3% in 2017.

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Laurence Dollimore

Laurence Dollimore is a Spanish-speaking, NCTJ-trained journalist with almost a decade’s worth of experience.
The London native has a BA in International Relations from the University of Leeds and and an MA in the same subject from Queen Mary University London.
He earned his gold star diploma in multimedia journalism at the prestigious News Associates in London in 2016, before immediately joining the Olive Press at their offices on the Costa del Sol.
After a five-year stint, Laurence returned to the UK to work as a senior reporter at the Mail Online, where he remained for two years before coming back to the Olive Press as Digital Editor in 2023.
He continues to work for the biggest newspapers in the UK, who hire him to investigate and report on stories in Spain.
These include the Daily Mail, Telegraph, Mail Online, Mail on Sunday and The Sun and Sun Online.
He has broken world exclusives on everything from the Madeleine McCann case to the anti-tourism movement in Tenerife.

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3 Comments

  1. Growing yes, but from a low base. Unemployment at 17%. How much higher is Spains unemployment rate than the UK’s? You are cherry picking facts to prove your own points…
    Things aint rosy in Spain.

  2. Green, it would be interesting to see the unemployment rate in the 3rd and 4th qrt after the holiday season. It’s a known fact that in Spain employment increases during the months stated in the article.
    Lets give another take/example.
    AMERICA has a population of 350ml. Unemployment rate 4.3%. FRANCE has a population of 67ml. Unemployment rate 9.5%. BRITAIN has a population of 65ml. Unemployment rate 4.5%. SPAIN has a population of 46.5ml. Unemployment rate 17.8% ITALY has a population of 60ml, Unemployment rate 11.5%.
    So basically Spain is not doing so well, in-fact a borderline case of asking another bail out. It has also been stated that it would take at least 50 years for Spain to break even (that’s if the EU still exist). No wonder why people are fighting to get to the UK for a job.

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