[DBMarcos99]

This is from the economic research company Markit

http://www.markit.com/assets/en/docs/commentary/markit-economics/2014/may/ESP_PMI_06_05_2014.pdf

The pace of growth of
the Spanish economy is set to accelerate in the second quarter.
After official data signalled a 0.4% quarterly increase in Spanish GDP in
the first quarter of 2014,PMI
™ data signalled a further upturn in the rate of expansion
during April. Moreover, stronger rises in new and outstanding business were
recorded and employment increased for the first time in three months, adding to a sense of optimism that the
Spanish economy is finally on the mend

[katy]

It’s accelerating like a 1980s Skoda 😆

[angie]

What is accelerating out of Spain are unemployed youths, wonder why?:

http://www.dw.de/unemployed-youth-turn-their-b … a-16703572

‘Mythical Exodus?’ posted on British Expats, no, for real Anna Nicholas and Co 🙄

[angie]

Marcos, care to answer why so many young Spaniards are turning their backs on Spain, why so many Brits have been forced to leave, why are they leaving, why don’t 100’s of 1000’s agree with the sage of Madrid who is not even Spanish, Mythical Exodus? Load of Cojones morelike

[DBMarcos99]

Not only has the pace of growth increased in Spain,
but now, for the first time in 4 years the number of mortgages taken out has increased. Unless this is a very strange blip, it’s all factual evidence that the tide has turned.

[katy]

Wtf is this. Bit like a forum format from 10 years ago

[angie]

It’s like watching paint dry katy, what’s happened to this site? Tried replying to a pm but no idea if it was sent ok, also, am I right in thinking pm’s now go through the moderator so no privacy there? Everything can now be controlled it seems. Reminds me of The Wizard of OZ, the great OZ!

It’s not like there’s been a lot of postings is it, got to laugh?

[Mark Stücklin]

I have not had much time to dedicate to this forum in recent months due to a crazy workload advising international investors. Moderating this forum is a thankless task.

It’s going to take a bit of time to get this new forum knocked into shape.

No, you are not right in thinking that all pms go through the moderator.

[angie]

Crazy workloads are good, there be gold in them thar workloads. Is that you on the right, he looks like a moderator might look? Lol

[DBMarcos99]

Best ever job creation figures for the month of May. Jobless figures fall by 111,916 ( the best ever figure for the month of May), but more importantly the number of job affilations grew by 198,320 people. A siginicant fact is that construction unemployment fell by 24,194. All looking very promising for the Spanish economy.

El pais in English

abc (spanish)

[GarySFBCN]

Sorry, but that article is nonsense. Firstly, a “0.4% quarterly increase” is not statistically significant. But here is what Edward Hugh and the Wall Street Journal have to say about Spain’s economy:
“First quarter Spanish GDP was tweaked lower in its latest revision. But even this modest rate of growth was only eked out thanks to still substantial government deficit spending and falling inflation. Which suggests Spain’s economy will struggle to hit escape velocity.
Indeed, there are worrying signs the first quarter represented a high point–however underwhelming in the first place–for the euro zone more generally. Recent data point to a further softening. And a need for a European Central Bank policy response.
Spain’s economy expanded 0.5% on the year in the first quarter, revised down from a previously reported 0.6% rise. But Edward Hugh, a Spain-based economist and respected blogger, pointed out that there’s even less growth here than meets the eye.
For one thing, in money terms, the economy is stagnating. Much of what apparent growth there is comes thanks to inflation adjustment, Mr. Hugh noted. That’s because Spain was effectively in deflation during the first quarter, and a negative GDP deflator (the component in GDP data that creates the inflation adjusted figure generally referred to when talking about economic growth) is thus boosting–subtracting a negative creates a positive–reported growth.”

So without government spending, Spain’s economy is in the crapper.
Given the truly insane economic policies within Spain, combined with the truly idiotic policies from the EU, the only hope for Spain is a highly devalued euro.
Read more here:

(if the link isn’t working, Google “The Pain in Spain is Mainly Europes Bane”)

• This reply was modified 10 years, 3 months ago by GarySFBCN.

[DBMarcos99]

Various respected economic institutions, including the Financial Times of London, have recently reported on accelerating growth in Spain. Which is why the various rating agencies are UPGRADING spain (I wonder why the usual suspects are keeping quiet on that???). As a personal anecdote, a friend of mine is moving house this weekend in Madrid, and he’s needed to find somewhere to stay short-term. He’s found it impossible to get a room in a hostal or budget hotel – they’re all fully booked up.
By the way I wouldn’t put too much weight on Mr Hugh’s opinions. His opinions are regularly pulled apart by Charles Butler http://ibexsalad.blogspot.com.es/2014/04/no-edward-thats-not-how-it-works.html

• This reply was modified 10 years, 3 months ago by DBMarcos99.
• This reply was modified 10 years, 3 months ago by DBMarcos99.

[DBMarcos99]

“Spain’s recovery has been a small miracle”
A Spanish spokesman? An American commentator? No – a director of investments at Deutsche Bank Wealth Management
http://www.abc.es/economia/20140530/abci-barquero-deutsche-bank-201405292139.html

Y las cifras están ahí para constatarlo. España ha pasado de tener un déficit en sus cifras de balanza por cuenta corriente de algo más del 11% a un superávit del 1,6% del PIB. Lo de este país (su recuperación) ha sido un pequeño milagro.

• This reply was modified 10 years, 3 months ago by DBMarcos99.

[angie]

What happens each year in Spain is that their jobless figures always fall in May due to the tourist season so it will be interesting to see what effect this has on long term unemployment figures, and not forgetting over 51,000 Spaniards under the age of 34 fled to the UK alone last year which come off the long term figures too.
However, getting the figure for unemployment down to just 25.6% even if it’s temporary is sort of ok! Pity about the long term figures growing last year!

• This reply was modified 10 years, 3 months ago by angie.

[Author]

Posts