I like Spain’s economic minister Luis de Guindos. By and large he’s straight down the line and you can usually take his comments to the bank.
Back in December we reported that he said the Spanish economy is set for a positive surprise and earlier this month he said that 2015 has started with a GDP rate above 2.0%
Earlier this morning Spain released Q4 GDP which grew at the fastest rate in 7 years. Q/Q GDP came in at 0.7% vs 0.5% prior, and 2.0% vs 1.6% prior, beating expectations of 0.5% and 1.9% respectively. That’s a faster pace of quarterly growth than the UK.
If there’s one country that has played the game and and made it work it’s Spain and well done to them. Unfortunately they still have some very big underlying issues like high unemployment but at least they are doing something rather than just talking about doing something like many other countries we could mention.
Spain suffered like everyone else in Europe but they’ve got their heads down and are hopefully coming out the other side.
Viva Espana
