RaboResearch - Economic Research

Economic Update

Spain: GDP and employment growth on the rise

GDP growth remains robust, mainly owing to a rise in private consumption. We expect employment growth to pick up, especially in the services sector. The fiscal reform announced in the wake of next year’s election puts the deficit target at risk.

Economic Update

Germany: Europe’s growth engine faltered

In the second quarter, the German economy shrank by 0.2% q-o-q. Without the negative impact of the warm winter, GDP growth would probably have been positive. Hard data also shows that the German economy had a strong start of the current quarter.