The Eternal Problem Of Spain’s Productivity
The problem in Spain’s economy: it’s that productivity is hardly apparent in the breakdown of GDP between the amount of work (number of hours worked) and the residue, which is productivity.
The problem in Spain’s economy: it’s that productivity is hardly apparent in the breakdown of GDP between the amount of work (number of hours worked) and the residue, which is productivity.
This was heard at Jackson Hole: “The cyclical recovery was gathering both pace and geographical breadth, thanks in part to the stimulus efforts of central bankers, the European Central Bank president said, adding that even if inflation remained low, the euro area economy was “gaining ground”. The Fed and the ECB feel they have done all they could. What a cop-out!
The latest batch of economic growth numbers corroborate a picture which we started to see last year, namely that the extent of the Eurozone recovery is widening. Germany is no longer the sole growth driver. Countries like Spain are catching up.
The US economy has entered its ninth year of growth and the recovery could last over 10 years, clocking up a new record. At this stage the doubt surrounding an atypical recovery is whether the best thing is for the Fed to maintain its monetary policy of the last few months and continue to gradually raise interest rates, despite the absence of inflationary pressures.
Caixin |Moody’s Investors Service on Wednesday downgraded China’s sovereign credit rating for the first time since 1989, warning that the government’s focus on maintaining growth will increase the country’s debt burden and erode its financial strength.
Nick Malkoutzis via Macropolis | The stock phrases came thick and fast after Monday’s Eurogroup. “Great progress,” “very close” and “an agreement in a few weeks” were a few of the perennial quotes trotted out again by officials following a failed attempt to settle differences over Greek debt relief.
Benjamin Cole | Japan has put together a string of five straight quarters of real growth, along with declining unemployment and minute amounts of inflation. Some have recently termed Abenomics “a big success.”
Reforms in Spain’s education system are key to guaranteeing future economic growth. But having a better educated population would also help to fight against rising inequality and poverty.
Ailing department store chain El Corte Ingles lived splendidly before Amancio Ortega, Zara’s founder, began his rapid journey through the world of fashion retailing both at home and abroad. Galicia’s Inditex group has not stopped growing in sales and store openings.
Inmigration in Germany is not a new topic. The country is the second most popular migration destination in the world, after the United States. In fact, some 11 million of the people currently living in Germany were actually born elsewhere. The controversial refugee movement and last poor German demographic trends published make immigration resurface as an opportunity to boost German’s potential growth.