The Institute of Economic Studies (IEE) estimates that investment in construction in Spain will grow by 2.5% this fiscal year 2017, accelerating its rate of increase with respect to last year, which stands at 2.3%.
In any case, according to the IEE in its latest ‘Coyuntura Económica’ report, the growth of investment in construction in 2017 will be practically half that of two years ago, since in 2015 the increase was 4.9%.
The Institute of Economic Studies pointed out that in the construction activity in Spain there is a “discordance” between the negative results of indicators such as cement consumption, the confidence index or the sales of large companies in the sector, as opposed to the positive evolution of employment.
In addition, the IEE stressed that new building permits, a leading indicator of housing activity, continue to grow, while official bidding, a leading indicator of public works, has begun a “very slight improvement” after a year and a half of declines.