Spain to Grow 0.7% in Q4

Spain’s Central Bank says strong job creation and buoyant domestic spending is likely to keep the economy growing by a quarterly rate of 0.7% in the last three months of the year, AP reported. The forecast released Wednesday is unchanged on the third-quarter rate, which was a slight slowdown from the 0.8% recorded in the previous three-month period. Spain emerged from recession in late 2013 and is now one of the European Union’s fastest-growing economies, although its unemployment rate of 19% remains the EU’s second-highest after Greece. The bank also predicts that Spain’s economy will grow by 3.2% in 2016 and by 2.5% next year.