The Andalucian economy is expected to contract by 2.5% during 2012 with unemployment rising to 33.5% according to the Economic Analysts of Andalucia, the second biggest drop in GDP since the financial crisis began.
A fall in domestic demand and continued decline in activity in construction (-7.1%), industry (-4.6%), agriculture (-3.8%) and services (-1.2%) are listed as the principal causes. Household spending is expected to fall by around 2.8%, making the outlook not very positive.