Spanish Economic Growth Better than German Economic Growth
The resurgence of the Spanish economy that began in 2015 is
continuing in 2016. Data from the Markit Composite PMI index over the weekend
showed that the Spanish GDP grew by 0.6 in the first quarter of 2016.
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| Great news for Spain as it continues to make progress |
The index shows that the Spanish performance of 55.1 PMI in
March was better than the forecasts predicted. It even performed better than
Bloomberg predicted. Bloomberg urged Spanish leaders to approximately number
the shoots of recovery of last year.
It seems like this is what is happening even though the
country is going through tough a rough political climate at the minute. It
looks like there will be a re-election in June unless the problem is solved and
a leader emerges.
This political turmoil hasn’t damaged the job market
however or the continues growth of the real estate property market and cities of Spain in March saw more than 50,000 jobs created and led to a drop in Spanish
unemployment for the second month in a row.
More data was published last week to show that the cost of living in Spain was stable and the service
sector in Spain reached a four-month high in March. Spain did a good job this
year of avoiding the typical post-Christmas slump that can affect the
employment figures in the service sector.
