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Private consumption grows in Spain

According to the forecasts from the OECD, Spain is the eighth fastest growing of the organization

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Source: Instituto de Estudios Económicos (IEE)

Spain is one of the countries of the world where private consumption will grow in 2016. This is what the provisions of the Organisation for Economic Co-operation and Development (OECD) confirmed, compiled by the Institute for Economic Studies (IEE), which predicts 3% increase in the country. Thus, Spain would repeat the same figure planned for the end of 2015, the entity that brings together the 34 most developed world countries also fixed at 3%. However, the expected average for the entire organization to the conclusion of 2015 is 2.3%.

Also, according to OECD data, Spain would stand at the eighth fastest growing organization, ranking behind Iceland (4.3%), Israel (3.9%), Estonia (3.7%), Poland (3.5%), Slovakia (3.3%), Hungary (3.2%) and Luxembourg (3.1%), and tied with the United States (3%).

On the other hand, with a rise of 2.9%, we find Australia, South Korea and Ireland, while private consumption in Sweden and Chile increased 2.8%, slightly below Spain data. Furthermore, Turkey (2.8%) and the UK (2.6%) also get exceed the average of the organization.

Finally, among the countries that recorded a weaker private consumption growth, we find Germany (2%), France (1.7%) and Denmark, Portugal, Austria and the Netherlands, with an increase of 1, 5%. Also Italy and Japan recorded 1.4%, while Finland (0.4%) and Greece (with a fall of 0.8%) close the ranking.

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