{
  "title": "Spain: Staff Report for the 2002 Article IV Consultation",
  "publication": "IMF Staff Country Reports, February 28, 2003",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/spain-staff-report-for-the-2002-article-iv-consultation-16353",
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  "summary": "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.",
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      "heading": "Executive summary and main findings",
      "content": "- Spain experienced a second year of subdued growth in 2002—albeit at a rate still well above the euro area average.\n- The relative resilience of Spain’s domestic demand underpinned performance in 2002.\n- Investment showed a comparatively stronger performance, sustained by booming construction activity and a continued public infrastructure effort.\n- Private consumption lost momentum after having been the mainstay of the earlier upswing, as households coped with rising inflation and higher indebtedness."
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    {
      "heading": "Economic themes and indicators highlighted",
      "content": "- Growth: subdued in 2002 but above the euro area average.\n- Domestic demand: described as relatively resilient in 2002.\n- Investment: comparatively stronger showing, driven by construction and public infrastructure.\n- Private consumption: weakening due to rising inflation and higher household indebtedness.\n- Subject tags listed on the report: Competition, Financial markets, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt.\n- Keywords provided: banking sector, collective bargaining system, Competition, CR, director, Doha round, Europe, exchange rate, firm, fiscal policy, Fiscal stance, GDP deflator, Global, government, income level, Inflation, ISCR, labor market.\n\n---\n\n Content in this bundle\n\n- cr0340\n  - cr0340 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0340 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 28, 2003",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451812053.002",
    "Spain experienced a second year of subdued growth in 2002—albeit at a rate still well above the euro area average.",
    "The relative resilience of Spain’s domestic demand underpinned performance in 2002.",
    "Investment showed a comparatively stronger performance, sustained by booming construction activity and a continued public infrastructure effort.",
    "Private consumption lost momentum after having been the mainstay of the earlier upswing, as households coped with rising inflation and higher indebtedness.",
    "Growth: subdued in 2002 but above the euro area average.",
    "Domestic demand: described as relatively resilient in 2002.",
    "Investment: comparatively stronger showing, driven by construction and public infrastructure.",
    "Private consumption: weakening due to rising inflation and higher household indebtedness.",
    "Subject tags listed on the report: Competition, Financial markets, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt.",
    "Keywords provided: banking sector, collective bargaining system, Competition, CR, director, Doha round, Europe, exchange rate, firm, fiscal policy, Fiscal stance, GDP deflator, Global, government, income level, Inflation, ISCR, labor market.",
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