Spain | Labour market in 1Q18 confirms upward bias in GDP growth

Summary

The recovery of the labour market continued in the first quarter despite the fact that growth in Social Security registrations moderated in March. Excluding seasonal factors, the number of Social Security registrations increased 0.8% quarterly, in line with 4Q17, and unemployment fell by 1.9% QoQ, 0.2 pp more. These figures anticipate GDP growth of around 0.8% QoQ in 1Q18.

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