Malaga's economy grows

Unicaja, through its research bureau Analistas Económicos de Andalucía, has revised its expectations for the growth for the Malaga and regional economy for the remainder of 2017. Due to the favourable performance of the various productive sectors and the greater dynamism of domestic and external demand.
Specifically in MalagaAccording to the report presented by Unicaja, GDP will grow by 3.11GDP3T, half a point higher than in March, with 2.61GDP3T.
Malaga is slightly higher than the growth recorded last year (31TP3Q). It can be said that we have overcome the economic slowdown of previous months.
On the other hand, the CEO of Analistas Económicos de Andalucía, Francisco García Navas, together with the reports coordinator, Felisa Becerra, concluded that the region as a whole would grow to 2.8% in 2017, four tenths more than estimated in March.
The offerThe rise is thanks to the positive contribution of sectors (0.61 Tbp3T from agriculture; 2.85 Tbp3T from services; 3.11 Tbp3T from industry; 3.51 Tbp3T from construction).
The cities with the highest GDP growth forecast are led by Granada (3.4%) and Almeria (3.3%).
Lower oil prices and the ECB's monetary policy continue to act as economic tailwinds to a greater extent than expected.
The constructionnext to the services sectorare the major players in the growth of Malaga's economy.
With regard to the labour marketIn Andalusia, employment growth stood at 2.8%, with a total of 2,913,700 people employed in Andalusia. This figure represents an increase of more than 80,000 employees compared to last year.
The number of unemployed will fall by 9% to .047,600 people, which means that the average rate will remain at 26.4%. Malaga is below this average compared to the whole Andalusia region.

GDP and employment
In overall terms, the evolution of the global economy has been plunged into a recovery activity, both in advanced and emerging economies. In addition, they estimate that employment may increase but the unemployment rate will not fall because the labour force is likely to rise as well.

Regarding constructionThe report also notes that activity continues to grow and that the outlook is positive.
In all of 2016, more than 10,000 homes were approved in Andalusia, and between January and April alone, more than 5,000 homes were approved.