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Spain's economy continues to grow

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Staff Writer | Friday August 26, 2016 2:37AM ET
Spain
European economy   Eight months without an acting government

Spain's robust economic expansion continued apace in the second quarter, defying concerns that eight months without an acting government would derail growth this year.


Economists, however, expect Spain's expansion to slow in 2017. Spain's economy expanded by a better-than-expected 0.8% in the second quarter and grew 3.2% versus a year earlier, the country's statistics agency said.

Spain's second-quarter economic expansion is higher than the 0.7% estimate the statistics agency had published at the end of July. The second-quarter figure of 0.8% is in line with growth in the first quarter.

Doubts about which political party or parties will eventually govern Spain have dragged on for three-quarters of a year after voters elected a divided parliament in December and again in June. Since then, lawmakers have been unable to cobble together a coalition.

But Spanish consumers have largely carried on despite the uncertainty, buoyed by job and slight wage growth as the country recovers from a crippling crisis that ended in 2013.

 

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