The construction sector will have a growth of 3.5% in Andalusia

The construction sector in Andalusia is booming according to the forecasts of the report “Economic Forecasts of Andalusia”, reviewed by the Economic Analysts of Andalusia, belonging to the Unicaja Banco Group.

It is worth highlighting from this forecast the positive contribution of all the sectors from which growth is estimated, for example in the construction field of which a growth of 3.5% is expected, 2.6% in industry and services and an upward trend in the tourism sector.

And a growth of the Andalusian economy of 2.6% for this year 2018, one tenth less than last year.

Construction sector

This report highlights that the area under construction with construction management approval increased by 70%, in Andalusia until September, with 83,000 sales, that is, one fifth of the total at the national level.

The coordinator of the report, Felisa Becerra, said that: “For the first time, since 2007, New and used housing operations have grown” and has assured that real estate prices continue to rise, with an average 0.8% in the third quarter of 2017, below the Spanish average.

Descending to the third quarter of 2017, to which the report by Economic Analysts of Andalusia refers, Felisa Becerra has highlighted that the increases registered there have been more intense in the construction (5.6%) and industrial (3.5%) sectors., while services increased by 2.7 percent. The only decrease in added value has been that of the agricultural sector, with a fall of 1.1 percent in year-on-year terms.

He also referred to tourist activity, which although it continues to grow, has moderated during 2017. He highlighted the increase in stays in tourist apartments.

Supply forecasts

In this sense, the supply forecasts also increase the agriculture sector (0.9%), industry (2.6%), construction (3.5%) and services (2.6%) below all, except construction, with the closing forecasts for 2017. The growth offer would have been supported by the positive contribution of all sectors, with rates between 1.7 percent in the agricultural sector and 4.9 percent in construction.

Demand forecasts

In relation to domestic demand, an increase in household final consumption of 2.3% is expected in 2018; of 0.9% from public administrations and non-profit institutions serving households.

In this sense, the first forecasts for this year point to an increase in all provinces; Yes, lower than that registered in 2017. Málaga, with three percent; Cádiz, with 2.9 percent; and Seville, with 2.8 percent, are those that could register the largest increases.

Employment continues to grow according to the EPA

In the data from the Active Population Survey (EPA), it has been highlighted that employment continues to grow at a faster rate and that the unemployment rate continues its downward trend.

Fountain:

https://www.eldiario.es/andalucia/Analistas-crecimiento-economia-andaluza-estima_0_733177154.html