[Anonymous]

and the outlook for 2009 is for a sharp decline..

http://spaineconomy.blogspot.com/2008/10/spain-officially-enters-recession.html

[Anonymous]

So is most of Europe. and ➡
Did you really think that Spain would somehow avoid what is approaching a World Recession.

Just Dan 8)

[Anonymous]

Sarah

It has NOT officially entered recession. Although it is highly probable it will next quarter if negative GDP growth.

The title is highly misleading as at this moment time as it implies 2 quarter negative GDP growth which has as yet not occurred.

[Anonymous]

Mary Hinge
Dont spoil the forums quest to seek out any bad news.
You must understand that only bad things happen in Spain if you know whats good for you. 😉

Just Dan 8)

[Anonymous]

Mary Hinge, Spain is in recession. I don’t care whether it falls under the misleading and worthless academic definition of recession or not.
Spain’s economy is contracting not growing -in the real world, that’s called a recession.

[Anonymous]

@forestfire wrote:

Mary Hinge, Spain is in recession. I don’t care whether it falls under the misleading and worthless academic definition of recession or not.
Spain’s economy is contracting not growing -in the real world, that’s called a recession.

If the economy contracts in a quarter it contracts in a quarter, but for it to be officially in a recession it needs to be 2 quarters neg. GDP, hence officially it is not.

Thats the official definition of a recession, and even that means nothing, if it falls 0.0000001% in two quarters then its not much of a recession, even though officially it is.

Just because a blog says its officially a recession, even though it then says officially ITS NOT, it really means nothing. Its the period and to a greater extent the severity.

[Anonymous]

@Mary Hinge wrote:

If the economy contracts in a quarter it contracts in a quarter, but for it to be officially in a recession it needs to be 2 quarters neg. GDP, hence officially it is not.

You are perfectly right. I guess waiting another 3 months for the real recession to begin won’t make any difference.

I wonder what the definition of “Depression” is. Spain is a good candidate for the later I guess.

[Anonymous]

World recession or not, i think Spains costas were heading for a big fall anway. The overbuilds, the the corruption, land grab, poor and slow justice etc. Why would anyone think any other outcome was likely, whatever the rest of the world was doing?.

Until Spanish people in the so-called top positions downwards are bestowed with common sense, a willingness to accept what’s right and what’s wrong, and a basic sense of fair play, it’s hard to see much changing?

[Anonymous]

I agree goodstitch: Dream on it will never happen.

[katy]

I agree Goodstitch, I think history will be re-written and Spain will blame all it’s problems on the economic downturn. They are already blaming falling tourist figures this summer on the credit crunch and we all know it had barely started to affect the ordinary family.

[Author]

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