The evolution of the GDP variation rate in 2019 both in the Canary Islands and in the rest of the national territory makes evident a slowdown in economic growth compared to the previous year. However, the evolution throughout the first two quarters of 2019 has had a more positive behavior than the projections made at the beginning of the year.
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KEYS
Regarding the labor market, in the second quarter, in the Canary Islands the active population increased by 8,700 people compared to the previous quarter and the number of employed people increased by 7,200. The unemployment rate in the same period of 2019 was 21.00% of the active population.
If we make the comparison with respect to the same period of the previous year, the number of employed population increases by 13,100, along with a growth in the active population of 29,900 people.
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FORECASTS
Analyzing the evolution of GDP and employment, and taking into account that there are situations of political and economic uncertainty that will affect the rest of the year, we make a forecast of the GDP growth rate for 2019 of 1.6% for the Canary Islands and 1.9% for Spain.
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REPORT
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