Thursday, May 29, 2014
I have watched for a Spanish economic recovery for no other morbid reason than Spain was hit so hard by the late 2000's credit crisis and recession. I believe that a Spanish rebound signifies good news for all of Europe. Spanish unemployment is currently 26% and is not expected to dip below 20% until 2017 according to S&P, which is not encouraging (unless you view the hiring that would cause the unemployment rate to drop six percentage points as positive). But Spain's economy is improving and it expanded twice as fast as the Euro region in the first quarter (Bloomberg). Here is a Bloomberg article on the beginning recovery of Spanish residential real estate. The Spanish economy is still bleak, but appears to be moving in the right direction.