Bank of Spain warns: Spain growing due to public spending but losing competitiveness with eurozone due to labour costs
Following the latest and controversial revisions by the National Statistics Institute (INE), Spain’s GDP exceeds the pre-COVID level by 5.7%, compared to 4.2% in the eurozone, thanks to public consumption, as household spending and investment are “lagging”, as the Bank of Spain points out.However, not everything is bright in the progress of the Spanish economy. On one hand, it has lost competitiveness compared to the eurozone as a whole due…