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Spain’s economic upturn

Spain is expected by some economists to be to be one of the fastest-growing in the Eurozone in 2016 and early 2017.

Performance indicators across much of property, tourism, manufacturing and agricultural exports have been generally encouraging.

However, in addition to this, data has been published showing that Spain’s car sales sector is increasing.  Spain’s national association of car salesmen, GANVAM, release figures recently showing car sales from January to August rose by 12.8% on the same period in 2015. Some 1.29 million vehicles have been sold in Spain.

31% of those sales were vehicles less than three years old. Clearly demand for new cars boosts employment in manufacturing and increases export potential.

Some believe Spanish property sales could total more than two million sales barrier in 2016. This has not happened for seven years!

Vehicle sale figures are considered by some economists as an indicator of economic growth and to some extent confidence in an economy. Generally speaking, during a period of economic uncertainty car sales usually fall. Indeed an increase in vehicle sales is often seen as a sign of economic recovery.

The Spanish economic crisis is generally accepted to have stretched from 2009 to 2013. We continue to look for a sustained recovery. These economic indicators and encouraging

Posted 20/9/2016

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