Spanish Economy Grows Despite Catalan Crisis

Spain registered economy growth despite the Catalan crisis. The National Statistics Institute INE revealed the rise of the gross domestic product (GDP) by 0.8 %. This happened due to high consumer demand, tourism boom and increasing export demand. Although Spain faces the Catalan crisis, the economy registered a slight growth.

However, a number of Institutions such as the International Monetary Fund forecasted a negative impact of crisis for future. The Catalan region accounts 19 % of the country’s total GDP. A great number of companies as CaixaBank, Banco Sabadell Gas Natural, Abertis have relocated from the Catalan region. 

The Spanish IBEX35 stock index rised up to 2.47%  demonstrating  the investor confidence.