Spain raises growth forecast on consumer confidence

Spanish Prime Minister Mariano Rajoy raised his government’s forecast for economic growth in the euro region’s fourth-largest economy as consumer spending accelerates.

The country’s output will expand 2.4% this year compared with a 2% projection set out in the budget in September, Rajoy said in parliament opening the annual state-of-the-nation debate.

Consumption is set to grow about 3% and the current account will post a surplus for the third straight year, he said.