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Spain's economy seen growing strongly despite Catalan crisis

AP  |  Madrid 

Spain's central bank says strong exports are likely to help the economy grow by a quarterly rate of 0.8 per cent in the last three months of the year despite the negative effects of the Catalan political crisis.

Spain's economy is set to expand by 3.1 per cent in 2017, but the government revised its estimate for 2018 from 2.6 per cent to 2.3 per cent because of uncertainty created by the since-ousted Catalan regional government's push for independence in October.

The central bank said today buoyant exports overall made up for the economic fallout in prosperous Catalonia.

Its figures are estimates and official data will be published by the National Statistics Institute next month.

Spain emerged from recession in late 2013 and is now one of the European Union's fastest-growing economies.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 27 2017. 18:30 IST