The National Statistics Institute (INE) confirmed yesterday that in the summer months, the real value of GDP increased by 0.5% from the second quarter and advances at an annual rate of 1.6%. The breakdown of national accounts also reveals that private consumption remains the engine of this recovery, the current public spending remains stagnant and the foreign sector returns to subtract. Or that investment moderates something your input. This is where it occurs the main novelty, because the added value generated housing investment grows back after seven years in retreat. the Investment in residential construction rose 1.3% from the second quarter, when the quarterly change not had ceased to be negative since the summer of 2007. The last notch of recovery is mainly a value symbolic. Because residential investment began to fall one year before Spain entered in mid-2008 in recession. What the socialist government, and many experts, then taken as a "soft landing" after the outbreak real estate, ended up being a harbinger of the worst economic crisis in over half a century. The financial collapse International, the Great Recession and its European epilogue revealed serious weaknesses Spanish growth pattern. The landing, under the worst possible conditions, it was an emergency. He left behind a trail of closed real estate, empty houses, financial institutions streams (or very battered). He endorsed a huge bill in activity and employment the Spanish economy. "The data show that activity in the sector of housing construction is approaching a turning point" experts warned recently BBVA Research. "Residential investment should already growing." the prediction of Studies, now supported by the national accounts, was based on the succession of partial indicators (cement consumption, financial condition, visas, foreign investment, employment in the construction) that realized in the last year of an improvement in the sector. Others, such as the purchase price of households tend to stabilize. BBVA experts recalled that "the real estate business has traditionally anticipated recovery of the economy. "But this time has not been, and even employment, which is usually the last to react to improving the activity, growing takes nine months. The high level of debt of households and firms, and vast park unsold new homes, close to half a million units, explained that investment Real estate is left so much behind. Seven years of destruction of activity have diminished the weight of the sector. If the value added generated investment housing came to be around 32,000 million per quarter, now barely 10,500 million. Involve an 12% of GDP in 2006, a disproportion unmatched in the euro zone has now been 4%. And they reveal the latest information is that which has touched the sector is rather the ground: the accounts of the Ministry of Development suggest This year more than in 2013. Some homes will begin But is that last year barely started 29.232 homes free price, the lowest figure since 1960. And only 5% of which were initiated in the years more unhinged the real estate boom. (El País. Page 27. 4 columns)