Financial Times FT.com

Spanish construction drives the economy forward but causes puzzle for economists

By Leslie Crawford in Madrid and Ralph Atkins in Frankfurt

Published: May 26 2005 03:00 | Last updated: May 26 2005 03:00

Spain's gravity-defying construction sector continued to drive the economy in the first quarter of the year, helping gross domestic product growth accelerate to 3.3 per cent from 3.2 per cent in the final quarter of 2004.

The performance far outstripped other European countries' lacklustre economies in the first-quarter, but Spain's prolonged property boom is beginning to puzzle - if not worry - economists.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this