RaboResearch - Economic Research

Economic Update Dutch version

Economic Update Spain

The available production-, sales- and sentiment indicators for the third quarter of the year point to slowing economic growth. Employment took a bit hit, which pushed up the seasonally adjusted unemployment count to over 5 million people.

Economic Update Dutch version

Country Update Spain

Even though the speed of recovery is nothing to cheer about, the recovery of the economy and the government finances remains on track. GDP grew by 0.3% on the quarter in 11Q1, after growing by 0.2% in the fourth quarter of last year.

Economic Update Dutch version

Economic Update Spain

Similar to the last quarter of 2010, export growth is set to grow at a healthy clip in the first quarter of 2011. Domestic demand on the other hand is still very weak.

Country Report

Spain (Country report)

The Spanish economy is still coping with the consequences of the housing market boom and bust. We expect weak economic growth both this year and next, leading only to a very modest decline in the unemployment rate.

Economic Update Dutch version

Economic Update Spain

Spanish GDP in 2010 rose by on average 0.15% a quarter in 2010. Due to a further fall in employment unit labour costs fell. A welcome development, since the economic reco¬very is highly dependent on foreign demand.

Economic Update Dutch version

Economic Update Spain

We expect the recovery in 2011 to be sluggish, similar to last year. Domestic demand is unlikely to grow robustly, while export boosting gains on the back of increased price competitiveness have hardly been realised. As such, it is important that wage growth does not rise in line with inflation. Though this is bad for purchasing power and consumption, it is necessary for the rebalancing of the economy.

Economic Report Dutch version

Euro crisis: ‘we’re not like that!’

Investors have been keeping a close watch on the financial situation of a number of eurozone countries since the Autumn of 2009. Financial markets are chiefly concerned about Greece, Ireland, Portugal and Spain.