Business operations in Spain fell to the levels of 20 years agoStaff writer ▼ | February 1, 2016
Consumption continued to rise in Spain contributing to the country's economic recovery, the economics newspaper Expansion reported citing the Bank of Spain.
Spain Consumption continues to rise, investments decline in Spain
The bank said that car sales were increasing, as well as sales of good and services and industrial production. It also pointed out that consumers' confidence was rising while interest rates were falling which made demand for mortgages to rise.
However, investments were decreasing due to the political situation as no party was able to form government yet. Business operations fell to the levels of 20 years ago and according to experts, Expansion said, uncertainty periods have an impact on consumption and employment later than in other areas.
Spain's Acting Minister of Economy and Competitiveness Luis de Guindos had said that Spain's economy could grow by 3.5 percent in 2016, while the Bank of Spain predicted a 0.8 percent growth for the last quarter of 2015. ■