The Spanish economy: The end of the recession is in sight, but the recovery will be slow
Fecha: julio 2013
Autores: Ángel Laborda, María Jesús Fernández
Etiquetas: Previsiones económicas, Crecimiento económico, Coyuntura económica, Exportaciones
The international economic situation remains fragile in both developed and emerging markets. The United States continues to grow and create jobs, albeit at a modest rate, while a more restrictive fiscal and monetary policy stance are causing concern regarding spillover effects for the global economy.The Euro area is still in recession, although with a trend towards stabilization, and financial markets remain fragmented. Emerging markets have lost momentum, with lower potential growth in China raising concerns about the performance of export-led growth economies. In Spain, the economy is bottoming out and is set to start to show positive growth rates as of the last quarter of this year. Domestic demand continues to be weak and some imbalances built-up over the crisis period have yet to be corrected. Exports will be the main growth driver, but their capacity is limited, which translates into a slow recovery.