Spain’s Growth Accelerates, Job Creation Not Quite Yet

Official estimates released on Thursday underscored market consensus predictions: Spain’s Q4 GDP grows at 0.3% quarter-on-quarter, the biggest rise in Spanish GDP since the beginning of 2008. Year-on-year growth was recorded at negative 0.1 percent.

Exports have helped ease the pain of the deepest budget cuts in Spain’s recent history. But now it’s time for real economy to pick up. PM Rajoy is counting on some increase in household spending and investment increase this year: December figures were a bit promising, retail sales decreasing by 1 percent from a year ago, compared with a decline of 11.2 percent in December 2012. Sales increased in September and November, after more than three years of free fall.

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