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Spain: Staff Report for the 2002 Article IV Consultation

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  • International Monetary Fund

Abstract

This 2002 Article IV Consultation highlights that Spain experienced a second year of subdued growth in 2002—albeit at a rate still well above the euro area average. This was largely owing to the relative resilience of Spain’s domestic demand, which in turn was supported by a comparatively stronger showing of investment, sustained by booming construction activity and a continued public infrastructure effort. After having been the mainstay of the earlier upswing, private consumption lost momentum, as households coped with rising inflation and higher indebtedness.

Suggested Citation

  • International Monetary Fund, 2003. "Spain: Staff Report for the 2002 Article IV Consultation," IMF Staff Country Reports 2003/040, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2003/040
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