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The Improving condence of both consumers and businesses, has given the market enough dynamism for 2015 to be the year with the highest GDP growth since 2007 (3.8%). The increase in private demand and the improvement of consumption made last year to end with an increase of 3.2% in GDP (0.8% in the fourth quarter, according to the Bank of Spain). The industrial production index grew 3.4% in December with respect to the same month of 2014. Regarding job market, the biggest decline in the rate of unemployment has been during 2015, reaching its lowest level in the last 5 years. Once seasonally adjusting the data, employment grew around 150,000 people. The services sector led the increase with 54,900 new workers. In percentage terms, the unemployment rate dropped 0.3 points in the last quarter to 20.9%.
Source : BNP Paribas Real Estate
