Spain: the economy slows down

In 2000 the robust economic growth of the previous year was only surpassed in the first quarter. However, real GDP expanded as a result of the large overhang at the beginning of the year by 4.1%. The situation on the labour market continued to improve. The unemployment rate fell to an annualised 14.1%. Consumer prices rose clearly by 3.5%. In 2001 GDP will increase by 2¾% and the unemployment rate will decline to 13½%. Consumer prices are expected to increase by 3½%.