The trend in the variables observed indicates that the recovery of the Spanish economy continued during the first half of 2016. With nearly 80% of the information available for 2Q16, the MICABBVA model estimates that quarterly GDP growth (QoQ) will have completed one year at around 0.8%. If confirmed, this stabilisation in the pace of expansion would give an upward bias to the growth envisaged in BBVA-Research’s baseline scenario for 2016 (2.7%).
Spanish Economic Recovery
Economic sentiment improves in Spain thanks to industry, services and construction.
LA CAIXA RESEARCH | Spain will need higher surpluses in the balance of trade of goods and services if it wants to lower its net debt position.
NEW YORK | By Ana Fuentes | In an eagerly awaited meeting for the Spanish government, PM Mariano Rajoy made his first official visit to the White House on Monday. As expected, Barack Obama praised the progress and reforms made by the Southern European economy, although both leaders agreed unemployment rate is still posing a major challenge. Later, Mr Rajoy also met IMF’s Head Christine Lagarde. After two hard recession years, and even more painful austerity measures, Spain is looking to restore international investors’ confidence.