RaboResearch - Economic Research

Economic Update

Economic Update Spain

The Spanish economy contracted by 0.3% q-o-q in the last quarter of 2011. We expect a further contraction in the first quarter of the current year. Government spending cuts and tax hikes will have a negative impact on domestic demand this year.

Economic Update

Conjunctuurbeeld Spanje (Dutch)

De Spaanse economie kromp in het laatste kwartaal van 2011 0,3% k-o-k. Ook voor het eerste kwartaal van dit jaar verwachten wij krimp. Bezuinigingen en lastenverzwaringen zullen dit jaar een wissel trekken op de binnenlandse bestedingen.

Economic Update

Conjunctuurbeeld Spanje (Dutch)

In 11K3 wist de export de Spaanse economie nog uit recessie te houden. Maar de beschikbare gegevens voor 11K4 wijzen op economische krimp. Ook voor het eerste kwartaal van dit jaar verwachten wij een daling van het BBP-volume.

Economic Update

Economic Update Spain

In 11Q3, export growth managed to keep the Spanish economy out of recession. But the available economic data for 11Q4 point to GDP contraction in that quarter. For the first quarter of this year we also expect GDP to fall.

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 Report

Zonder euro is de gulden geen daalder waard (Dutch)

De financiële problemen in de eurozone hebben ertoe geleid dat speculaties over het einde van de euro niet langer taboe zijn. De eenheidsmunt wordt sinds de acute crisis in Griekenland danig op de proef gesteld.

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.